In Re Werner
MEMORANDUM OPINION, FINDINGS OF FACT, AND CONCLUSIONS OF LAW
The debtors, by Terrence Byrne, have brought this motion pursuant to
The debtors have applied to avoid liens pursuant to
1. 1800 Oliver Diesel Tractor.
2. Rex Self-unloading Chopper Wagon.
3. Twelve Foot Wheel Disc.
4. Cultipacker.
5. Bug Killer.
*820 6. Welder.
7. Drill Press.
8. ICH 56 Blower.
9. Meyers Manure Spreader.
The debtors filed a petition for relief under Chapter 7 of the Bankruptcy Code on March 6, 1986. On March 8, 1986, the debtors held a voluntary sale at which most of the above mentioned farm items were sold. SSB argues that the debtors should not be allowed to exempt the proceeds of these items of equipment. The court disagrees. It has been firmly established that debtors are entitled to the exemptions they had available on the date of filing their bankruptcy petition.
Matter of Rivera,
A debtor’s available exemptions are determined at the time of filing the bankruptcy petition. White v. Stump,266 U.S. 310 , 313 [45 S.Ct. 103 , 104,69 L.Ed. 301 ] (1924); In re Sajkowski,49 B.R. 37 , 39 (Bkrtcy.R.I.1985). Once a debtor’s available exemptions are determined, a debtor generally will not lose the available exemptions because of the subsequent sale of the exempt assets.
In re Patterson,
Next, SSB argues that the debtors only applied for lien avoidance with respect to “tools of the trade” and, therefore, avoidance should be limited to those items specifically listed under Wisconsin Statute § 815.18(8) as “tools for trade.” This argument is without merit. The debtors applied to avoid liens on implements or tools of the trade and use this phrase in the context of
SSB argues that § 815.18(6) of the Wisconsin Statutes should be construed so as to limit the exemption to only those items specifically listed as exempt, and should not be construed to include the modern versions of the items listed. The court disagrees. It has been held that modern implements that are the direct successors in farm operations to the implements listed in § 815.18(6) should be included within the exempt classification.
In re Erickson,
Finally, SSB objects to each specific item asserting that such items do not constitute exempt property within the meaning of Wisconsin Statute § 815.18. Initially, the court notes that each debtor is entitled to claim his or her own exemptions.
1. The Oliver Diesel Tractor is a “tractor” and the debtors may exempt up to $1,500.00 of the proceeds from the sale of this item.Wis.Stat. § 815.18(6) .
2. The Rex Self-unloading Chopper Wagon and Meyer Self-unloading Chopper Wagon are both “wagons” and the proceeds from the sale of these items of equipment are exempt. The evidence introduced at trial indicated that the rack or box and running gear all constitute one item of equipment and, therefore, the whole item is exempt property.Wis.Stat. § 815.18(6) .
3. The Twelve Foot Wheel Disc is a disc and clearly exempt property.Wis. Stat. § 815.18(6) .
The debtors claim the remaining items as exempt as farming tools or implements under Wisconsin Statute
Mr. Werner Mrs. Werner
8 ft. Cultipacker $ 75.00 IHC Blower $200.00 Bug Killer 50.00 Meyers Manure
Welder 150.00 Spreader 300.00
Drill Press 25.00 TOTAL $500.00
Mise. Small Tools
& Equipment 200.00
TOTAL $500.00
All of these items may be considered tools or implements of a farmer. The value of the items does not exceed the limits pre
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scribed in the respective statutes and, therefore, all of these items are exempt property.
This opinion shall constitute findings of fact and conclusions of law in accordance with Bankruptcy Rule 7052.