United States Bankruptcy Court. Nov. 7, 1995.
Debtor contends that each partner is a mortgagee of a farm that the partnership sold.
They are to receive monthly mortgage payments until the sale price of the farm is paid in full. The purchase and sale agreement and the 1099S tax form are attached to the Petition to support her partnership interest exemption. Trustee timely filed an objection to Debtor's claimed exemption. Trustee argues, primarily, that Debtor's interest is merely one in real estate, not an existing partnership. Debtor in response argues that the mortgagees are partners and that the partnership interest cannot be attached.