SBAM PARTNERS, LLC v. Cheng Miin Wang

Plaintiff and respondent SBAM Partners, LLC (SBAM) applied for an order for the sale of defendant and appellant Cheng Miin Wang’s condominium located in Los Angeles County in order to satisfy a judgment recorded in the same county. An order to show cause why the order for sale should not issue was entered, and a hearing was held. The issue presented was whether a debtor could create a homestead exemption on property acquired after a judgment had been recorded. Wang claims he was entitled to a homestead exemption on the property pursuant to Code of Civil Procedure section 704.710. The trial court denied the exemption because Wang’s property was purchased after SBAM recorded the abstract of judgment. We affirm.

FACTUAL AND PROCEDURAL BACKGROUND

On January 13, 1995, a judgment was entered against Wang in the principal sum of $128,957.07. The judgment was assigned to Bank of Seoul on or about March 24, 1995, and was then assigned to SBAM on or about November 19, 2002. An abstract of the judgment had been recorded in Los Angeles County on March 30, 1995. On November 17, 1997, Wang purchased the condominium in question, located in Los Angeles County; he has resided there…