Amends GS 1C-1601(a)(1) to increase the amount of aggregate interest that a debtor is entitled to retain free from enforcement of the claims of creditors to $75,000 (currently, $35,000) in real property or personal property that the debtor or a dependent of the debtor uses as a residence or in a cooperative that owns property that the debtor or a dependent of the debtor uses as a residence. Also deletes language specific to an unmarried debtor. New GS 1C-1601(a)(13) provides that the debtor’s aggregate interest, up to $18,500, in a burial plot for the debtor or a dependent is free from the enforcement of creditor claims. Makes conforming changes to GS 1C-1603(c) (statement form to be submitted by the debtor). Makes other conforming changes.
INCREASE STATUTORY HOMESTEAD EXEMPTION.
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View NCGA Bill Details | 2011-2012 Session |
TO INCREASE THE STATUTORY HOMESTEAD EXEMPTION.Intro. by Hartsell.
Status: Re-ref Com On Finance (Senate Action) (Apr 7 2011)
Bill History:
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Thu, 3 Mar 2011 Senate: Filed
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Mon, 7 Mar 2011 Senate: Passed 1st Reading
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Mon, 7 Mar 2011 Senate: Ref To Com On Judiciary I
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Thu, 7 Apr 2011 Senate: Withdrawn From Com
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Thu, 7 Apr 2011 Senate: Re-ref Com On Finance
S 207
Bill Summaries:
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Bill S 207 (2011-2012)Summary date: Mar 3 2011 - View Summary
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