Thursday, November 29, 2012

Bankruptcy Law, The Law of Debtors and Creditors Problem Set Answers, Warren Westbrook Sixth Edition - Problem Set 9

Problem set 9, p.217

  • §522(b)(3). Not in the same place for two years. So look at the 180 days before the two years.
  • Does Texas law apply? Does he get Texas homestead law then? He lived in Texas for 91 days, so he applies Texas law. But Texas homestead law only protects homesteads in Texas. So he cannot use Texas law.
  • If there is no protection under any one state, then Federal exemptions apply with a cap of $18,500. (b)(3)(c) (end).
  • Are we okay with him making this asset-protection plan? Does he need to have the chance of litigation to keep the pressure on him to not commit a tort?
  •  §522(f).
Problem Sets: Table of Contents 
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