A debtor has the option of using either federal or state exemptions;however,the 2005 Act imposes limits on the use of a state homestead exemption to the extent that the homestead was obtained through fraudulent conversion of nonexempt assets at any time before filing the bankruptcy petition.

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The Answer of A debtor has the option of using either federal or state exemptions;however,the 2005 Act imposes limits on the use of a state homestead exemption to the extent that the homestead was obtained through fraudulent conversion of nonexempt assets at any time before filing the bankruptcy petition.

A Debtor Has the Option of Using Either Federal or State