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In re Jessie Joyce Hughes and Caroll Lee Hughes

Bankr. No.: 
99-40302
Chapter: 
7
Date of Decision: 
October 18, 1999
Issue: 
If the trustee sells the debtor's homestead to realize on equity in excess of the allowed homestead exemption of $30,000, may the debtor declare part of the proceeds exempt under S.D.C.L. § 43-45-4?
Ruling: 
No. Exemptions are determined on the petition date. Sale proceeds obtained later by the case trustee if he sells the homestead do not become personalty that the debtor can exempt under § 43-45-4.
Full Bankruptcy Court Decision: