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Questions and Answers
Which type of liens on exempt property can be removed under 522(f) in bankruptcy?
Which type of liens on exempt property can be removed under 522(f) in bankruptcy?
- Execution liens and possessory, purchase money security interests
- Garnishment liens and purchase money security interests
- Judgment liens and non-possessory, non-purchase money security interests (correct)
- Mechanics liens and non-consensual liens
Which type of security interests are not avoidable under 522(f) in bankruptcy?
Which type of security interests are not avoidable under 522(f) in bankruptcy?
- Non-consensual security interests for professional implements or books
- Non-possessory, non-purchase money security interests
- Purchase money security interests like a credit card limit (correct)
- Purchase money security interests for household furnishings/goods
To what extent can liens on exempt property be removed under 522(f)?
To what extent can liens on exempt property be removed under 522(f)?
- To the extent of the consensual liens
- To the extent of the purchase money security interests
- To the extent of the non-possessory, non-purchase money security interests
- To the extent of the applicable non-consensual security interests (correct)
In bankruptcy, which type of security interests could the debtor potentially avoid under 522(f)?
In bankruptcy, which type of security interests could the debtor potentially avoid under 522(f)?
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Under Section 522(f), when can a lien not be completely avoided?
Under Section 522(f), when can a lien not be completely avoided?
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In the context of consensual mortgage and lien, which statement is true?
In the context of consensual mortgage and lien, which statement is true?
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When does a judgment lien become avoidable under Section 522(f)?
When does a judgment lien become avoidable under Section 522(f)?
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