Dot is awarded $150,000 in a suit against Evan,and obtains a court order to sell Evan's home at auction to satisfy the debt.Half of the $100,000 proceeds from the sale are paid to Dot toward the judgment.Under a state exemption statute,the remainder is given to Evan as

Question

Quizplus · Accepted Answer

A homestead exemption is a legal provision that allows a homeowner to retain a certain amount of equity in their home free from the claims of most creditors. In this scenario, Evan receives the remainder of the sale proceeds as his homestead exemption under the state exemption statute.

Dot Is Awarded $150,000 in a Suit Against Evan,and Obtains