Shirley v. Smith, No. 12-6012 (8th Cir. 2012)
Annotate this CaseDebtor appealed an order of the bankruptcy court sustaining the chapter 7 trustee's objection to debtor's claimed homestead exemption. The court concluded that the bankruptcy court identified debts debtor incurred prior to October 2007, when the property at issue became his homestead. Debtor had not challenged that finding on appeal. Pursuant to Iowa Code 561.21(1), therefore, the house could be sold to satisfy those debts, notwithstanding debtor's claimed homestead exemption. Accordingly, the court affirmed the order.
Court Description: Bankruptcy Appellate Panel. Order sustaining Chapter 7 trustee's objection to debtor's claimed homestead exemption is affirmed as the property was not exempt under Iowa Code 561.20 and the Eighth Circuit's decision in Walters v. Bank of the West, 675 F.3d 1142 (8th Cir. 2012). [ June 14, 2012
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