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Carolyn

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  1. Carolyn

    My situation

    We just did a Chapter 7 similar to that. How long have you been married and is the debt something you incurred prior to marriage?
  2. Under the new Federal Residency Requirement, is it possible for a debtor to sell a home in Minnesota, immediately move to WI and 511 days later file Chapter 7 and exempt proceeds from the sale of the MN home under 815.20 as rollover funds. WI gives 2 years to buy a new home. The new federal requirement states a person has to live in the new state at least 40 months (3 yrs. 4 mos.) to claim the funds as homestead if the proceeds are greater than $160,375.00. It goes on to state that if the state exemption offers less than that amount, the law is irrelevant. Does that mean when the proceeds are $20,000.00 the debtor can use WI Exemptions. Other rules applying to WI exemptions state that you have to live in the state more than 91 days of the last of the last 180 day period (which she did) you can use WI Exemptions.
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