Bankr. L. Rep. P 71,985 in Re Steve and Jo Ann Stevens, Debtors v. Pike County Bank v. A.L. Tenney, Trustee

Steve and Jo Ann Stevens appeal from a final judgment of the district court1 affirming the bankruptcy court’s2 determination that they were entitled to claim only 80 acres of their 120 acre property under the Arkansas homestead exemption. We affirm.

I. BACKGROUND.

There are no disputed facts in this case. Steve and Jo Ann Stevens (“Debtors”) are husband and wife living together. They operated a farm of about 120 acres in Pike County, Arkansas. On May 20, 1985, the Debtors filed a joint petition for relief under Chapter 13 of the Bankruptcy Code. After initially claiming a rural homestead…