Debtor Cannot Claim Homestead Exemption for Home Acquired After Debt Incurred – In re Jody May Walters
Our Riverside County foreclosure defense attorneys were interested to see a recent decision about when exactly debtors in bankruptcy may claim a homestead exemption. In In re Jody May Walters, the debtor and her husband routinely owned several houses at a time, building or remodeling them and selling them for a profit. Between 1999 and the June decision, they owned five homes in Iowa and six in Florida. However, like others involved in the real estate market, they fell into trouble in 2008 and ended up returning one home to the mortgage lender. They moved from that home into their current home in Pleasant Hill, Iowa in 2008. Bank of the West also won judgments against the Walterses and others in that year.
In early 2010, Walters filed for Chapter 7 bankruptcy and claimed an interest in the Pleasant Hill house as a homestead exemption. Bank of the West successfully challenged this, and Walters appealed to the bankruptcy panel of the Eighth U.S. Circuit Court of Appeals. The appeal focused on Iowa’s rules for homestead exemptions.
Ways to read books for free, starting with visiting the library. I have a daughter-in-law who is a voracious reader. Every time we visit, I see a new pile of books on the coffee table. “Take whatever you like,” she says. “I’ve read them all.” In the car going home my wife and I always end up discussing the amounts of money she must be spending on all these books. We also wonder where she finds the time for all the reading she does. She once told us she read through the night because the book was so enthralling. Purchasing new books at stores can be incredibly expensive, but there are plenty of ways readers can save cash on feeding their habit. I hope she gets to read this blog…
Spend some of your money and come join in the er…, fun The festival of San Fermin, or the Pamplona bull running as it’s more commonly known outside Spain, officially begins at midday on 6th July every year with the ‘chupinazo’ which takes place on the balcony of the Casa Consistorial in Pamplona. Thousands of people congregate in the square awaiting the mayor’s official announcement that the fiestas have begun, a rocket is launched and the partying begins.