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Debtors may only retain legally exempt assets and other property
expressly authorized by statute. In South Dakota, permissible exemptions
are limited to only the State of Dakota bankruptcy exemptions, and may
not rely upon the federal Code provisions for exempting any property.
Further, the specific categories and value limitations must be followed
precisely to avoid an objection and the possibility of loosing assets
because of innocent errors or omissions.
If an objection is filed during a South Dakota Chapter 7 cases,
claiming property is not exempt, the first response should be in
writing. A motion in opposition of objection should clearly set forth
the statutory basis of claiming property as exempt and include a request
for an oral
hearing. When homes are at stake, do not leave a hearing to chance, but
rather actively contest, dispute and reassert the legal basis for
retaining property and actively guide the court and trustee throughout
the entire objection process.
See also: South Dakota Homestead Exemption.
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