In re Oliver

MEMORANDUM OF DECISION ON TRUSTEE’S OBJECTION TO DEBTOR’S EXEMPTION

FRANCIS G. CONRAD, Bankruptcy Judge.

Trustee’s objection to Debtor’s claim of an exemption in homestead proceeds presents1 an issue of first impression in this District. We must determine whether Debtor may claim as exempt a $20,000 note secured by a mortgage on Debtor’s former homestead in another state. The note represents her share of the proceeds of the former homestead, awarded to her upon dissolution of her marriage. We hold that it is exempt.

Debtor and her former spouse owned a home in Newington, Connecticut. When they…