In re Balsley

Dilenschneideb,

referee in bankruptcy. This matter is before the court on the bankrupts ’ objections to the Trustee’s Beport of Exempt Property wherein the trustee denied the exemption of an anticipated income tax refund in lieu of homestead on the ground that the bankrupts were the owners of a homestead. The bankrupts claim that they were purchasing real estate on land contract and at the time they filed their bankruptcy petitions said contract had terminated by reason of nonpayment of installments, consequently argue the bankrupts, there was no homestead at the time the petition in…