Soost v. NAH, Inc. (In Re Soost)

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that, where debtors claimed a $1.00 exemption in real property, the excess equity is property of the estate available for distribution to creditors
• holding that debtor had failed to exempt entire asset where debtor claimed $1.00 as exempt, yet valued asset at $26,000
• noting that homestead exemption in specific dollar amount does not render homestead immune from sale by trustee in bankruptcy
• holding exempted property is “no longer part of the bankruptcy estate”
• acknowledging, but not taking a position on, a split of authority regarding whether an exemption established by default due to lack of a timely objection may be substantively challenged by a judicial lien creditor in response to a Section 522(f) motion
• “... where the value of an asset exceeds the amount of the claimed exemption, the asset as a whole does not become exempt.”

Source: CourtListener parenthetical corpus (CC0).