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Bankruptcy Civil Procedure Litigation

Ninth Circuit Bankruptcy Panel Holds Lack of Timely Objection Bars Objection to Homestead Value Exemption

In In re Masingale, the U.S. Bankruptcy Appellate Panel for the Ninth Circuit held that in the absence of a timely objection, debtors who claimed a homestead exemption of “100% of FMV” in their residence had a valid exemption claim for the full fair market value of the property.

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In a recently published decision, In re Masingale, 644 B.R. 530 (9th Cir. BAP 2022), the U.S. Bankruptcy Appellate Panel for the U.S. Court of Appeals for the Ninth Circuit (the BAP) held that in the absence of a timely objection, debtors who claimed a homestead exemption of “100% of FMV” in their residence had a valid exemption claim for the full fair market value of the property, including post-petition appreciation. The fact that the claimed exemption far exceeded the applicable statutory limit, or that the Chapter 7 trustee never had an opportunity to object, did not change the outcome as the BAP found that the lack of a timely objection barred any challenge to the exemption.

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