If I filed Chapter 13 and sold my home just before I filed, are the proceeds from this sale exempt from the bankruptcy?

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If I filed Chapter 13 and sold my home just before I filed, are the proceeds from this sale exempt from the bankruptcy?

Homestead exemption.

Asked on March 31, 2012 under Bankruptcy Law, Florida

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Please check with an attorney in your area. While Flroda ha a very liberal exeption for homesttead, the exeption is determined on the date of filing.  So if you filed forst there would be no question that the house would be exempt.  But since you filed after you sold the proceeds may be a part of the bankrupt estate if there is no intent to reinvest in another homestead.  Get help.  Good luck. 


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