We hear the question all the time: Can I keep my car if I file bankruptcy? There is a fair amount on the web on this topic: It basically comes down to the value of the car, any liens, exemptions,…
Category: Bankruptcy Exemptions
Remainder Interest not Eligible for Massachusetts Homestead
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Judge Boroff of the Massachusetts Bankruptcy Court has held that an owner of a remainder interest in a home could not claim a homestead exemption. The case is on re Gordon, Case No. 11-44524 (Bankr.D.Mass August 28, 2012). In Gordon,…
Massachusetts Bankruptcy Court Rules on Homestead Proceeds Exemption
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Judge Hillman of the Massachusetts Bankruptcy Court days ago issued an opinion holding that a debtor could not extend his homestead to the surplus proceeds of a foreclosure sale. The court read the language of the statute quite literally: If…
Massachusetts Bankruptcy Court Allows Federal Homestead Exemption in Second Home
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In the interesting yet simple case of in re Lawrence, No. 11-42045-MSH (Bankr.D.Mass. 2012) the court confronted the following uncontested facts. On schedule C to their bankruptcy petition the Lawrences claimed an exemption in the Maine condominium, invoking the Massachusetts…