BK Case "Tenancy by Entirety"

Posted by DignOut (63.228.228.1) on May 18, 2003 at 15:28:50:

Stumbled on this at nolo.com and thought it may be helpful.

"Spouses Protected by Tenancy by Entirety Exemption Against Claims of Separate Creditors, Even if Bankruptcy Cases are Joined".

The Federal Court of Appeals for the 4th circuit, applying virginia state law and Federal law, has ruled that a tenancy by the entirety exemption for a home protects a married couple against the claims of individual creditors even if the bankruptcy trustee consolidated the couple's separate bankruptcy filings into a single case. This ruling is a departure from precedent holding that a couple loses the protection of the tenancy by entirety exemption if they file jointly, or if their separate filings are later joined by the trustee.
In re Bunker, 312 F.3d 145 (4th Cir. 2002)

http://pacer.ca4.uscourts.gov/opinion.pdf/012071.P.pdf

Hope I got the link right.

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