Lee v. Field

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The trustee's adversary complaint contesting the basis for debtor's exemptions qualified as an objection to those exemptions under Federal Rules of Bankruptcy Procedure 4003. The Ninth Circuit affirmed a bankruptcy court's turnover order denying debtor's claimed exemptions. In this case, before filing a petition in bankruptcy, debtor transferred his interests in two properties into a tenancy-by-the-entirety estate, and subsequently claimed an exemption for those interests under 11 U.S.C. 522(b)(3). The panel rejected debtor's argument that the trustee had failed to make a timely objection to his claimed exemptions, and therefore the exemptions were valid notwithstanding the avoidance of the transfer. View "Lee v. Field" on Justia Law