In re Boyd

Citations

• 120 F. 999
• 1903 U.S. Dist. LEXIS 387

Syllabus

<p>1. Bankruptcy — Exempt Property — State Statutes.</p> <p>Bankr. Act, § 6, Act July 1, 1898, 30 Stat. 548 [U. S. Comp. St. 1901, p. 3424], declaring that the act shall not affect the allowance to bankrupts of the exemptions prescribed by the law of the state where the bankrupt has his domicile, did not enlarge the exemptions available to the bankrupt under the state laws, nor prevent the enforcement of Code Iowa, § 4015, providing that none of the exemptions prescribed in the chapter should be allowed against an execution issued for the purchase money of property claimed to be exempt.</p> <p>2. Same — Estoppel of Bankrupt.</p> <p>Code Iowa, §. 4015, provides that none of the exemptions prescribed by the chapter should be allowed against an execution issued for the purchase money of property claimed to be exempt, and on which such execution is levied. Held that, where a bankrupt invoked the benefit of the. bankrupt act, and thereby precluded a seller of exempt property from obtaining a judgment and levying execution thereon, as required by such section, he was estopped to object that the court of bankruptcy had no jurisdiction to order that such property be sold, and the proceeds applied to the unpaid purchase price, on the ground that no judgment had been recovered or execution levied.</p> <p>8. Same — Sale of Exempt Property — Application—By Whom Made.</p> <p>Since no title to exempt property passes to the trustee in bankruptcy, creditors having claims for unpaid portions of the purchase price of such property, claiming the right to have it sold, and the proceeds applied to such claims, are the proper persons to present such question, and not the trustee in bankruptcy.</p>