In Re Farnik

MEMORANDUM OPINION

FREDERICK J. HERTZ, Bankruptcy Judge.

This cause comes to be heard on the objection of the Chapter 13 Standing Trustee to the homestead exemption claimed by the debtor. The exemption is sought to be applied against the value of his right of redemption in property currently held in land trust. The facts are not in dispute and are set forth below. The issues presented to this court are whether a mortgagor’s right of redemption in mortgaged property is an interest in real property to which the Illinois Homestead Exemption will attach; and in that event, whether the interest…