England v. Golden

SCHROEDER, Circuit Judge.

This case involves the application of the California homestead exemption in a bankruptcy proceeding. The bankrupt, Golden, appeals from a $25,000 judgment in favor of the trustee, England. The issue is whether an individual who files for bankruptcy after selling his home, and claims a homestead exemption under California law for the proceeds of that sale, is required to reinvest those proceeds, in another home within six months in order to maintain the exemption. The bankruptcy court held that there was such a requirement, and because the debtor failed to invest the…