Bankr. L. Rep. P 75,890 in Re Joseph Kahan, Debtor. David Seror v. Joseph Kahan

Opinion by Judge PREGERSON.

Chapter 7 debtor Joseph Kahan (“Mr. Ka-han”) appeals the district court’s judgment affirming the bankruptcy court’s order finding that Mr. Kahan’s homestead exemption under California law is limited to $45,000.00. Mr. Kahan holds his residence in joint tenancy with his wife, Frieda L. Kahan (“Mrs. Kahan”), who did not declare bankruptcy. He contends that his entire one-half interest in the property is exempt from the bankruptcy estate. We have jurisdiction under 28 U.S.C. § 158 (d). White v. White (In re White), 727 F.2d 884, 885-86 (9th Cir.1984) (an order granting or denying a homestead exemption is immediately appealable). We affirm.

BACKGROUND

On March 31, 1986, Appellant Mr. Kahan filed a Chapter 11 petition for bankruptcy relief. With his petition, Mr. Kahan filed a schedule entitled Schedule B-l — Real Property, that listed as his asset the real property at 177 South Poinsettia Place, Los Angeles, California 90036 [hereinafter the Property]. Mr. Kahan holds the Property in joint tenancy with his wife; disposition of her interest in the Property is not before us. He listed $375,000.00 as the Property’s fair market value and listed four trust…