15 Aug 11th Circuit: Debtor’s Tax Refund Exempt as Tenants by the Entireties Property
In a recent opinion (In re Uttermohlen), the Eleventh Circuit Court of Appeals ruled that a bankruptcy debtor’s tax refund can be claimed as exempt as “tenants by the entireties†property if the debtor’s spouse does not also file bankruptcy and if they have no joint unsecured debt.On his Bankruptcy Schedule C, Mr. Uttermohlen listed as exempt his 2010 Tax Refund, in an amount to be determined, under Florida law. He later amended his Schedule C to claim that the amount was $10,668.00, and by definition was exempt as tenancy-by-the-entireties property (known as TBE exemption) under 11 U.S.C. § 522(b)(3)(B), as well as Florida law.