Bankr. No.:
08-30034
Chapter:
7
Date of Decision:
September 23, 2008
Issue:
(1) Whether under S.D.C.L. § 43-45-4, Debtors could exempt two accounts receivable, valued at "unknown" on their schedule B, by claiming a value of "all" exempt on their schedule C? (2) Whether under S.D.C.L. § 43-45-4, Debtors could exempt their accrued but unpaid wages and their 2008 tax refund, valued at "unknown" on their schedule B, by claiming a value of "unknown" exempt on their schedule C?
Ruling:
No. While it may not always be possible to assign a precise value to an item of personal property for the purposes of schedule B, a debtor must specify the dollar amount being claimed exempt under S.D.C.L. § 43-45-4 on schedule C. A claim of "all" or "unknown" is inappropriate.
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