The debtor in this Chapter 7 bankruptcy case claimed a homestead exemption for real property held in trust. Although the debtor was a beneficiary holding fifty percent of the interests in the trust and occupied the property, she was not a trustee. The Chapter 7 bankruptcy trustee asserted that the debtor's purported homestead declaration is ineffective.
The Bankruptcy Court reported the case to determine whether to sustain the bankruptcy trustee's objection. The Massachusetts Supreme Judicial Court held for the Trustee, finding that under the applicable Massachusetts Homestead statute, a trust beneficiary was not eligible to record a declaration of homestead.
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Bankruptcy Updates, Wills, Trusts, & Estate Planning Updates
State, 1st Circuit, Massachusetts |
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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