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keeping a homesteaded house

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    keeping a homesteaded house

    Now that I have finished crying I can be somewhat coherent and ask a question. I went to my 341 today.

    the trustee is disputing equity in a home that I want to keep as my homestead house. My attorney didn't seem too worried about it. He said it is unlikely I would lose that house. Because the market is down and I am only half owner of the home (my husband owns the other half) and after all the fees involved with selling the house. there wouldn't be any profit left for the creditors.

    The trustee seems to have more of an issue with it because it (the home) is out of state and I'm claiming an out of state exemption. Well I know for a fact that the exemption in the state I'm filing and in the state of the home is they same. It just that the trustee doesn't know that.

    The more I think about it the attorney is right. I don't think there are any worries here.

    #2
    At first, I thought you were applying your current state of residence's exemptions to a home outside that State. I'm glad that they are one in the same.

    I would trust your lawyer at this time. Should be interesting as to venue. (Did you file in the right State.)
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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