Exemptions In Bankruptcy

31 Jan Chapter 13 Debtor’s Lawsuit Tossed Out for Failure to List It in Bankruptcy Documents

The doctrine of judicial estoppel reared its ugly head again, preventing a chapter 13 debtor from suing his former employer for racial discrimination.  The U.S. Court of Appeals, Eighth Circuit, ruled that a chapter 13 debtor should have amended his bankruptcy documents to list the...

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22 May Minnesota Property Tax Refunds Not Exempt in Bankruptcy, Appeals Court Says

Reversing the Minnesota bankruptcy court, an intermediate federal appeals court ruled that a property tax refund owed to a bankrupt homeowner cannot be claimed exempt.Manty v. Johnson (In re Johnson), No. 13-6050 (8th Cir. BAP April 22, 2014). The appeals court said that the bankruptcy court...

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31 Jul Is Your Homestead Exemption Bulletproof under 11 USC 522(o)?

imagesIn Florida, your home is truly your castle. We have Florida constitutional homestead equity protection in an unlimited amount. This means that you can file bankruptcy with a two million dollar home (or more) with no mortgage and claim it as exempt, but this doctrine is subject to exceptions when a debtor files for bankruptcy protection. 11 U.S.C. 522(o) is one such exception. Under this section, a debtor may not claim as exempt his or her homestead, or any portion of the homestead, that was acquired with non-exempt assets and actual fraudulent intent to defraud a creditor. It is the second part of this test which sends chills down your spine. What exactly is the requisite fraudulent intent? This is the question that we will explore in this blog.
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