In the Matter of Joelanne Wikes, Bankrupt and v. James A. A. Smith, Trustee And

Appellant Joelanne Wikes and her husband Gerald each filed a voluntary petition in bankruptcy on November 13, 1968. The two proceedings were consolidated by the District Court on its own motion, and the same trustee was appointed to administer each estate.

For some years prior to bankruptcy, Gerald and Joelanne worked together as husband and wife to operate a small, unincorporated family business. In October of 1966, they used funds generated by that business to purchase an automobile. The record does not indicate pre-

cisely how title and registration were taken; it reveals only that they contained the names of both Gerald and Joelanne. The automobile was sold in the latter part of October, 1968, for approximately $2,000.00. Gerald and Joe-lanne each deposited $1,000.00 of the proceeds in a separate federal savings and loan account on October 31, 1968, approximately two weeks before the petitions were filed.

The trustee permitted Gerald to claim the $1,000 exemption provided for savings and loan accounts by California Code of Civil Procedure § 690.21 and California Financial Code §§ 7611 and 11,000, as incorporated into the Bankruptcy Act by 11 U.S.C. § 24 (§ 6 of the Act),…