Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

December 27, 2005

Homestead Decision from Bankruptcy Court

by @ 10:58 am. Filed under Homestead

The December 26, 2005 edition of Massachusetts Lawyers Weekly has a front page story about a recent bankruptcy court decision that addressed the applicability of the homestead exemption to the proceeds from the sale of the protected house. “Judge: homestead exemption follows house-sale proceeds” involved a situation where a person filed for bankruptcy protection and then sold his homestead-protected house. The creditor argued that once the home was converted to cash, the homestead no longer applied (after all, it’s intended to protect the home, isn’t it?). The judge disagreed, saying (among other things) that the status of the property as exempt was fixed as of the date of the filing of the bankruptcy petition and a subsequent change in the nature of the property (i.e., from a house into cash) could not alter its exempt status. The attorney for the creditor indicated he will appeal this decision.

It is uncertain what application this case will have to non-bankruptcy situations. I doubt that a non-bankrupt debtor will be permitted to sell his homestead-protected home and then walk away with up to $500,000 in the proceeds at the expense of his creditors. Of course, logic and homestead law don’t exactly walk arm in arm, so we can’t be sure about that.

Massachusetts Residency Exam

by @ 6:32 am. Filed under Pop Culture

Back by popular demand, our Massachusetts Residency Examination. Take this test to determine if you may legitimately call yourself a resident of the Bay State:

You know you’re from Massachusetts if
1. You think crosswalks are for wimps
2. If someone is nice to you, you know they either want something or they’re from out of town
3. You call Coke and Pepsi “tonic”
4. You know that a yellow light means that at least five more people can get through and a red one means two more can
5. You could own a small town in Iowa for the cost of your house
6. There are 24 Dunkin Donuts shops within 15 minutes of your house
7. If you stay on the same road long enough it eventually has three different names
8. Someone has honked at you because you didn’t peel out the second the light turned green
9. You’ve honked at someone because they didn’t peel out the second the light turned green
10. You cringe every time you hear an actor imitate a “Boston accent” in a movie
11. At the ice cream shop, you call chocolate sprinkles “jimmies”
12. You miss the smell of burning leaves
13. You know how to pronounce Worcester, Haverhill and Leominster
14. You know what they sell at a “packie”
15. You’ve never been to “Cheers”
16. You’ve slammed on the brakes to deter a tailgater
17. You keep an ice scraper in your car all year round
18. You’ve pulled out of a side street and used your car to block traffic so you can make a left
19. You’ve bragged about saving money at The Christmas Tree Shop
20. You know what “regular coffee” is
21. You have been to Fenway Park
22. You use the words “wicked” and “good” in the same sentence
23. You know what a frappe is
24. St Patrick’s Day is your second favorite holiday
25. You always say “the Cape” never “Cape Cod”

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