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What is a homestead exemption?

investment in realty that a debtor must forfeit
equity in a home that a debtor is permitted to retain
remainder of the debtor's interest in commercial property that is returned to him after fulfilling creditors' claims
all of the debtor's assets converted to cash

1 Answer

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The answer is "equity in a home that a debtor is permitted to retain".


A homestead exemption shields the estimation of a home from property expenses and lenders following the demise of a mortgage holder life partner. A homestead exemption can be found in state resolutions and sacred arrangements over the U.S. also, is a programmed advantage in a few states. In states where the estate insurance isn't programmed, mortgage holders must document a case which must be re-recorded while moving main living places

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