On a debtor's default, to ensure that the debtor will retain some form of shelter, most familiarly exempt from execution or attachment by an unsecured creditor is the value of
A)collateral possessed by the creditor.
B)a family home to a specified amount.
C)non-collateral possessed by the debtor.
D)non-exempt property.

Question

Quizplus · Accepted Answer

A family home up to a specified amount is commonly protected from seizure by unsecured creditors in the event of the debtor's default, ensuring the debtor retains basic shelter. This exemption is recognized in many jurisdictions as a way to balance creditor rights with the basic human need for housing.

On a Debtor's Default, to Ensure That the Debtor Will