LegalCorner- Frequently Asked Questions

-List Your Site Here! -- Targeted Advertising For Just Pennies A Day!

-Tell A Friend

- Bookmark This Page

LegalCorner^TM - Home Buying And Selling F.A.Q.'s

Find A Lawyer

Law Area:

State:

Search

--Back

Q.Will the Homestead Exemption prevent my property from being sold?

A.The homestead exemption does not prevent the sale of a property declared as a homestead. The homestead exemption just ensures that the owner of the property will receive a certain amount of the equity if the residence is sold to satisfy certain debts and judgments. Typically the property will not be sold unless the sale would produce enough money to:

Pay all existing liens on the property;

Pay off all mortgages and loans secured by the equity in the home;

Pay the costs of selling the home; AND

Allow the homeowner to keep the amount of equity protected by the homestead exemption.

© Copyright 1999-2024 Melissa C. Marsh. All Rights Reserved. All Information on this website is subject to a Disclaimer and Use Agreement. This information is provided as general information only and should not be construed as legal advice. We advise you to seek the advice of competent legal counsel to address your own specific questions, facts and circumstances.