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.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.
Published In: Bankruptcy Updates, Wills, Trusts, & Estate Planning Updates
Reference Info:Decision | State, 1st Circuit, Massachusetts | United States
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.
© David K Webber | Attorney Advertising