The May edition of the American Bankruptcy Institute Journal features an article published by Victoria L. Nelson and Jacob L. Houmand titled A Cautionary Tale: Transfer of Real Property from LLC to Debtor May Trigger Statutory Cap On Homestead Exemptions, American Bankruptcy Institute, May 2015. The article addresses the history and rationale behind the statutory cap on a debtor’s homestead exemption under 11 U.S.C. § 522(p) and its recent expansion following the holding by the United States Bankruptcy Court for the District of Nevada in the case In re Caldwell (Case Number BK-S-14-16024-LED). In Caldwell, the Bankruptcy Court held that the cap on homestead exemptions under Section 522(p) applies in situations where a debtor transfers real property from his wholly owned limited liability to a trust that entitled him to claim a homestead exemption. Ms. Nelson was the Chapter 7 Trustee in the Caldwell case and Mr. Houmand was general counsel for the bankruptcy estate. The full article can be accessed below and is reprinted with the permission of Elizabeth, Stoltz, Managing Editor, American Bankruptcy Institute:
Victoria L. Nelson and Jacob L. Houmand Publish Article In the American Bankruptcy Institute Journal Regarding New Case Law Interpreting the Statutory Cap On Homestead Exemptions
May 5, 2015 / / Comments Off on Victoria L. Nelson and Jacob L. Houmand Publish Article In the American Bankruptcy Institute Journal Regarding New Case Law Interpreting the Statutory Cap On Homestead Exemptions
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