Hannigan v. White, 1st Circuit Court of Appeals

The First Circuit held that the bankruptcy court was entitled to determine that a debtor, who intentional under valued his property, could not later amend his homestead exemption to protect the actual value of the property, once that value was found by appraisal. The result of the decision is that substantial non-exempt equity in the real estate was available to creditors and the bankruptcy trustee.

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