Bankr. No.:
99-40302
Chapter:
7
Date of Decision:
October 18, 1999
Issue:
Whether the debtor's homestead exemption was limited to $30,000 in value? [Note: The debtor essentially challenged the constitutionality of S.D.C.L. § 21-19-2.]
Ruling:
State law limits the value of a homestead exemption to $30,000 when judgment creditors are present. The case trustee serves as the judgment creditor under bankruptcy law to similarly limit the amount of debtor's homestead exemption in bankruptcy cases. Further, the debtor failed to show that S.D.C.L. § 21-19-2 was unconstitutional.
Full Bankruptcy Court Decision:
