The Chapter 7 Trustee objected to the Debtors' attempt to reduce the amount of exemptions claimed on a prior recorded homestead deed and use the resulting excess exemption amount in an attempt to exempt funds held in a bank account resulting from the sale of a distribution contract.  The contract was an asset of the estate at the time of  the initial filing of the case, but the Debtors did not claim an exemption in the contract at that time.  The Debtors argued that the proceeds received from the sale were not part of the Chapter 7 estate because the case was previously one under Chapter 13, and the provisions of 11 U.S.C.  § 348(f) apply, which provide that the Chapter 7 estate does not include assets that have been obtained since the time of the filing of the original case.  Relying on In re Emerson, 129 B.R. 82 (Bankr. W.D. Va. 1991), aff’d, 962 F.2d 6 (4th Cir. 1992), the Court held that the Debtors were precluded from timely perfecting any exemption in the funds held in the bank account pursuant to the Virginia homestead exemption.  Had the Debtors wanted to claim a portion of the distribution contract or proceeds realized from its sale as exempt, they should have included it in the original homestead deed.  The Court sustained the Trustee’s objection.