United States Third Circuit

In Chapter 7 bankruptcy proceedings, the judgment of the district court is affirmed where: 1) the district court correctly held that the avoidance of the mortgage was a separate asset from that claims as an exemption by the debtors because they claimed an exemption in the residence, and not in the proceeds from the sale of the residence; 2) the district court applied Schwab appropriately in concluding that the 30-day time period in which to object to debtors' exemptions under Rule 4003(b) did not preclude the trustee from objecting; and 3) the trustee's objection was valid as the debtors did not provide sufficient notice through their disclosure in Schedule C that they needed to exempt the property's full value.

Appellate Information

• Decided 08/06/2012
• Published 08/06/2012

Judges

• Greenaway

Court

• United States Third Circuit

Counsel