Where the debtor has not been located in a single state for the 730-day period preceding the petition date, the state law applicable for the purpose of determining exemptions is the place where the debtor’s domicile was located for the 180 days prior to the 730-day period (i.e. days 910 through 730 prior to petition date) or the place where the debtor’s domicile was located for a longer portion of that 180-day period than any other place.
Examples: For the following examples, assume an October 31, 2018 petition date, for a debtor who currently resides in Texas. Assume also that Debtor resided in California on and prior to October 31, 2016.
[730 days prior to the petition = November 1, 2016; 910 days prior = May 5, 2016]
Example A. Debtor’s domicile located in Texas on November 1, 2016.
Because the debtor was located in a single state during the 730 days preceding the petition date, Texas law governs.
Example B. Debtor’s domicile located in Texas on January 1, 2017.
No domicile prior to California.
Because the debtor was domiciled in more than one place during the 730-period, California law governs.
Example C. Debtor’s domicile located in Texas on January 1, 2017.
Debtor also resided in Colorado until August 1, 2016.
Because the debtor was domiciled in more than one place during the 730-period, and in more than one domicile in the 180 days preceding that, California law governs. The debtor was located in California for the longer period of the 180 days.
Where the debtor disposed of (i) real or personal property or a cooperative used by itself or its dependent as a residence, (ii) a burial plot for the debtor or its dependent or (iii) real or personal property which the debtor or its dependent claims as a homestead within 10 years of the petition date and with intent to hinder, delay or defraud a creditor, the value of the debtor’s exemption will be reduced by that portion transferred which the debtor could not have exempted had it retained the property.
A debtor’s state-law homestead exemption is limited to $189,050* (valid until April 1, 2025/subject to adjustment) regardless of the actual amount of the exemption under state law - for real property or cooperatives used as a residence or homestead or burial plots for the benefit of the debtor or its dependents, if the debtor acquired the interest in property within 1215 days of the petition date (approximately 3 years 4 months) and the interest in the homestead exemption was not transferred from the debtor’s previous principal residence outside the 1215-day period.
A debtor’s state-law homestead exemption is limited to $189,050 -regardless of the actual amount of the exemption under state law -if the debtor:
•was convicted of a felony, which under the circumstances indicates the filing of the Bankruptcy petition was an abuse of the Bankruptcy Code’s provisions;
•owes a debt for its violations of securities laws or RICO; or
•caused serious physical injury or death to another individual within the five (5) years preceding the petition date, which was the cause of the debtor’s criminal act, intentional tort, or willful or reckless misconduct,
unless the debtor’s interest in the property is “reasonably necessary for the support” of the debtor and its dependents.