In re: Nicole W. Brown

United States Bankruptcy Court, D. New Jersey·Decided August 6, 2026·No. 25-21406·Unknown

Opinion

FOR PUBLICATION

UNITED STATES BANKRUPTCY COURT DISTRICT OF NEW JERSEY

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In re:

NICOLE W. BROWN, Chapter 7

Case No. 25-21406 (CMG) Debtor. - - - - - - - - - - - - - - - - - - - - - - - - - - -X

OPINION

APPEARANCES:

KASEN & KASEN David A. Kasen, Esq. Attorney for Debtor

MCMANIMON, SCOTLAND & BAUMANN, LLC Andrea Dobin, Esq. Attorneys for Thomas Orr, Chapter 7 Trustee

CHRISTINE M. GRAVELLE, U.S.B.J.

Introduction

Chapter 7 trustee Thomas Orr (the “Trustee”) moves to strike the bankruptcy exemptions claimed by debtor Nicole W. Brown (the “Debtor”) under 11 U.S.C. § 522(b)(3)(B) for assets she owns jointly with her non-debtor spouse, Baika Brown (the “Spouse”). The assets include the residence at 105 Duda Lane, Aberdeen, New Jersey, held by the Debtor and her Spouse as tenants by the entirety (the “Property”), and two bank accounts held by them as joint tenants (the “Bank Accounts”). The Property and the Bank Accounts each have significant unencumbered equity. The question before the Court is whether a debtor may exempt an interest in property held as a tenancy by the entirety under New Jersey law. If the answer is yes, the Trustee will be unable to liquidate the assets, depriving creditors of any payment on their claims despite the substantial equity. This would allow the Debtor to exit bankruptcy with not only the fresh start contemplated

by the Bankruptcy Code (the “Code”), but also a head start through retention of a valuable asset no longer subject to the claims of her creditors. If the answer is no, the assets will become part of the bankruptcy estate, allowing the Trustee to liquidate the jointly held assets without the consent of the Spouse. This would eviscerate one of the principal protections afforded by New Jersey law to tenancies by the entirety and could result in the Spouse, who is not liable for the Debtor’s individual debts and has not filed a bankruptcy petition, losing his residence. For the reasons explained below, the Court finds that the Debtor may exempt her present possessory interest in the Property but may not exempt her contingent right of survivorship. The Court further finds that the Debtor may not exempt the Bank Accounts.

Jurisdiction

The Court has jurisdiction over this contested matter under 28 U.S.C. §§ 1334(a) and 157(a), and the Standing Order of the United States District Court dated July 10, 1984, as amended October 17, 2013, and June 6, 2025, referring all bankruptcy cases to the bankruptcy court. This matter is a core proceeding under 28 U.S.C. § 157(b)(2)(A), (B), and (O). Venue is proper in this Court under 28 U.S.C. § 1408.

Facts

The Debtor filed a Chapter 7 bankruptcy petition on October 27, 2025. On October 28, 2025, the Trustee was appointed to oversee the bankruptcy estate. The petition and schedules indicate that the Debtor and her non-filing Spouse own the Property as tenants by the entirety. The Debtor values the Property at $771,000, subject to two mortgages totaling approximately $272,000. Although her Spouse is jointly liable on the mortgages, the remaining debts listed by the Debtor are solely her obligations and arise primarily from her ownership of a failed business.

The Debtor also lists the Bank Accounts on her schedules. One account is valued at $34,672.01, and the other at $3,176.38. The Bank Accounts are held with her Spouse as joint tenants. On Schedule C, the Debtor claims state and federal nonbankruptcy exemptions under § 522(b)(3), including 100% of the fair market value of the Property and 100% of the value of the Bank Accounts. The Trustee timely filed the instant motion to strike the exemptions claimed in the Property and the Bank Accounts.

Legal Analysis

Exemptions in Bankruptcy

The filing of a bankruptcy petition creates an estate comprised, with limited exceptions, of “all legal or equitable interests of the debtor in property as of the commencement of the case.” 11 U.S.C. § 541(a)(1). “It is from this central core of estate property that the debtor’s creditors will be paid.” 5 Collier on Bankruptcy ¶ 541.01 (Richard Levin & Henry J. Sommer eds., 16th ed.). The Code allows debtors to exempt property of the estate, effectively removing that property from the estate so that a Chapter 7 trustee cannot liquidate or distribute the exempt assets to creditors. See 11 U.S.C. § 522; In re Farr, 278 B.R. 171, 177 (B.A.P. 9th Cir. 2002). These exemptions are “an integral and fundamental component of a debtor’s fresh start in bankruptcy and thus are liberally construed.” Hon. Joan N. Feeney & Michael J. Stepan, Bankruptcy Law Manual § 5:34 (2025-1). Their purpose is to “let the debtor maintain an appropriate standard of living as he or she goes forward after the bankruptcy case” by setting aside certain property as exempt. In re Farr, 278 B.R. at 175 (quoting 4 Lawrence P. King, Collier on Bankruptcy ¶ 522.01, at 522-10 (15th ed. rev. 2002)). Section 522(b)(2) allows an individual debtor to exempt property under federal bankruptcy law. Section 522(b)(3) allows an individual debtor to exempt property under applicable state and

federal nonbankruptcy law. Relevant here, under the latter provision a debtor may exempt “[a]ny interest in property in which the debtor had, immediately before the commencement of the case, an interest as a tenant by the entirety or joint tenant to the extent that such interest as a tenant by the entirety or joint tenant is exempt from process under applicable nonbankruptcy law.” 11 U.S.C. § 522(b)(3)(B). Four elements must be satisfied for § 522(b)(3)(B) to apply: (1) the debtor must hold an interest in property; (2) the interest must have been held immediately before commencement of the case; (3) the interest must have been held as a tenant by the entirety or joint tenant; and (4) the interest must be exempt from process under applicable nonbankruptcy law. Here, it is undisputed that the Debtor held an interest in the Property immediately before commencement of the case and

that she held that interest as a tenant by the entirety. The questions before the Court concern the nature of the Debtor’s interest and whether that interest is exempt from process under applicable nonbankruptcy law. To answer the former question, the Court turns to New Jersey law under the established principle that “property interests are created and defined by state law.” Butner v. United States, 440 U.S. 48, 55 (1979). New Jersey Tenancy by the Entireties Law

In 1988, the New Jersey Legislature enacted N.J.S.A. 46:3-17.2 through -17.5, codifying the treatment of tenancy by the entirety property in the State (the “Entireties Act”). Two provisions are most relevant here. The first provides that “[n]either spouse may sever, alienate, or otherwise affect their interest in the tenancy by entirety during the marriage or upon separation without the written consent of both spouses.” N.J.S.A. 46:3-17.4.

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