If, Debtor had remained in Connecticut after her divorce, however, she would not be entitled to claim the note and mortgage from her ex-husband as exempt. The general rule is that if property exempted by statute is exchanged for property not covered by any applicable exemption statute, the exemption is lost. Thus, Debtor seeks to apply Vermont's statutory exemption law to a transaction that took place in another state to exempt funds that would not be exempt in that state. We hold, with one caveat, that she can do just that. 3023 is plain and unambiguous.
Debtor is now a Vermont citizen.
Moreover, the amount of the exemption is limited by the amount of the exemption available in Vermont. Accordingly, Debtor's exemption is allowed and Trustee's objection is overruled. Debtor is to submit an order consistent with the views expressed in this Memorandum of Decision upon five days' notice to Trustee.