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Bruess v. Dietz (In re Bruess)

Bruess v. Dietz (In re Bruess), Case No 15-6019 (9th Cir. B.A.P. 2015)
Debtor's interest in real property was not acquired until deed was recorded and did not transfer upon execution of deed. Debtor's exemption in property limited to $155,675.00 pursuant to section 522(p)(1) because interest acquired within 1215 days of filing chapter 7 petition.
Procedural context:
Appeal from the bankruptcy court for the District of Minnesota sustaining trustee's objection to debtor's exemption in real property and limiting such exemption to $155,675.00 pursuant to section 522(p)(1), reviewed de novo.
Debtor and her father executed a deed transferring real property to the debtor in April 2010; however, the deed was not recorded by her father until January 2013, 700 days prior to the petition date. The debtor sought to exempt her whole interest in the property, $562,760.33 under the Minnesota homestead exemption. The chapter 7 trustee objected to the amount of the claimed exemption, asserted debtor was only entitled to claim $155,675.00 pursuant to section 522(p)(1).
Schermer, Saladino and Nail

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