IN RE STEWART

No. 10-81979.

452 B.R. 726 (2011)

In re Ronald G. STEWART and Debra A. Stewart, Debtors.

United States Bankruptcy Court, C.D. Illinois.

May 12, 2011.


Attorney(s) appearing for the Case

Sumner Bourne, Peoria, IL, Peoria, IL, for Debtors.


OPINION

THOMAS L. PERKINS, Chief Judge.

Like many states, Illinois provides its citizens an exemption in proceeds from the sale of a homestead. It is an "expiring" exemption good for one year after receipt of the proceeds the purpose of which is to permit the proceeds to be reinvested in a new home. One question presented is whether a debtor who claims the exemption in homestead proceeds must intend to reinvest the proceeds in another home. The Court...

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