Case Summary:
The Debtor was 100% owner of a limited liability company (LLC), which in turn held legal title to the property on which the Debtor resided. The Debtor attempted to take a Wisconsin homestead exemption in the property, but the Court determined that the Debtor did not have a property interest which could be exempted. The Court held that the Debtor and his LLC were separate legal entities, so the Debtor did not have legal title to the property, and his equitable interest in the property had passed to the Trustee along with his ownership interest in the LLC.

Statute/Rule References:
11 U.S.C. § 522(b)(1)(3)

Key Terms:
Exemptions – Homestead
Homestead Exemption
Property of the Estate