Does property claimed exempt pass out of the estate if the trustee fails to timely object to the exemption pursuant to BR 4003? Does post-petition appreciation on totally exempt property belong to the trustee or to the debtor? Is the exemption claimed in value or in property?
The debtor used federal exemptions and claimed their residence exempt. There was no equity over and above the exemptions and the property was claimed exempt. The trustee did not object. Two years later the trustee sought to sell the property.
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