05AM04977
Crown Asset Management vs. Vincent Schaaf
Nature of Proceeding:
Filed By:
Notice of Hearing on Claim of Exemption
Colclough III, Robert J.

The claim of exemption is denied.

This is a bank levy on an account jointly held by judgment debtor and his wife.
Judgment debtor claims that the funds in the account are exempt pursuant to CCP
700.160(b). However, that section does not create an exemption. That section states
that if the account is in the name of the judgment debtor , whether alone or together
with a third person, no court order is required to levy on the account.
Except as otherwise provided by law, all of the obligated party’s property, both real and
personal, may be subject to execution. See Code Civ. Proc. § 699.710. Exemptions
may be found, inter alia, at CCP § 703.010 et. seq. Further, pursuant to § 703.080(b)
the exemption claimant has the burden of tracing an exempt fund, when and if one is
identified. The documents filed do not trace the funds to an exempt source.