In Re Landry

MEMORANDUM OF DECISION AND ORDER GRANTING THE TRUSTEE’S OBJECTION TO THE DEBTOR’S CLAIM OF HOMESTEAD EXEMPTION

RICHARD L. BOHANON, Bankruptcy Judge.

The trustee has objected to the debtor’s claim of homestead exemption. Since Oklahoma has opted out of the federal exemption scheme the decision turns on application of the state statute.

OKLA.STAT. tit. 31, § 2 (1910) provides for homestead exemptions and says, in pertinent part “... in case said homestead is used for both residence and business purposes, the homestead interests therein shall not exceed in value the sum of Five Thousand Dollars…