Kronstadt v. Citizens & Southern Nat. Bank

HUTCHESON, Circuit Judge.

This is a controversy between the trustee and the bank over whether its assignment of a homestead exemption right prevails over the bankrupt’s renunciation of homestead. It concerns the proceeds of a part of the bankrupt’s stock, pointed out and claimed by him as exempt, and sold by the trustee with the understanding that it was, and that the proceeds would be, exempt.

The question arises because, after the claiming and pointing out of the stock and its actual setting apart and sale by the trustee as exempt, but before the report of the sale had been filed, or a formal…