Schultz
Schultz v. Mastrangelo
Opinion
Lead Opinion
Browning, J.
The appellees, husband and wife, filed' a voluntary petition in bankruptcy on August 14, 1962, and were adjudicated, bankrupts on the same day. Schedules attached to the petition claimed exemption of certain real property as a homestead. Two days after the filing and adjudication, the appellees recorded a. declax'ation of homestead with respect to the property in accordance with Arizona statutes. The trustee determined the property was not exempt. The referee- and district court held to the contrary, and the trustee appealed.
The issue, as the trustee presents it,, is whether “the Declaration of Homestead [must] be recorded * * * pri- or to the adjudication of bankruptcy for it to be effective against the Trustee- * * -x-»
*279 In Myers v. Matley, 318 U.S. 622 , 63 S.Ct. 780 , 87 L.Ed. 1043 (1943), the Supreme Court held that a declaration of homestead is good as against the trustee in bankruptcy though recorded after filing of the petition in bankruptcy if, under state law, the “declaration of homestead would be effective as against a creditor to prevent a judicial sale of the property if made and recorded after levy but before sale thereunder.” 318 U.S. at 627 , 63 S.Ct. at…