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Questions and Answers
What is the maximum value a debtor can exempt in his homestead acquired within 1215 days before filing for bankruptcy?
What is the maximum value a debtor can exempt in his homestead acquired within 1215 days before filing for bankruptcy?
- $300,000
- $200,000
- $155,675 (correct)
- $100,000
Under what condition can a person claim more than the $155,675 homestead exemption?
Under what condition can a person claim more than the $155,675 homestead exemption?
- Purchasing the home at a discounted price
- Being a first-time homebuyer
- Living in the home for 3 1/3 years (correct)
- Renting out a portion of the home
What is the cap placed on IRA's according to 522 (n)?
What is the cap placed on IRA's according to 522 (n)?
- $2 million
- $1.4 million (correct)
- $1 million
- $1.8 million
How does a fraudulent conveyance in the last 10 years affect the homestead exemption?
How does a fraudulent conveyance in the last 10 years affect the homestead exemption?
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