Nature of the Case
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Facts
Mesa, Debtor, and McKay purchased a home. Debtor scheduled his one-half interest as exempt property under the Florida homestead exemption. It was purchased for $215,000. It was worth $250,000. It has a first of $157,000 and a second of $67,649.55. The proceeds of the second were used to finance a new business started by McKay after he lost his job with Travelers. Once the parties acquired the home, it was completely remodeled. To fund the remodeling project, McKay fraudulently caused checks payable by Travelers to be issued to Debtor. They totaled $147,977.70. Debtor’s mother got $35,528.15 and construction contractors got $194,909.76. Debtor was told the checks were drawn on McKay’s retirement account. The court disbelieved Debtor’s testimony and finds that Debtor knew that some or all of the funds were obtained fraudulently by McKay. The court found that Debtor knowingly assisted in the fraud. Debtor seeks an exemption for his interest under Florida homestead law.
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