Fact Pattern 19-2
Mary’s home is in a state that has a $30,000 homestead exemption. Mary de¬faults on a $60,000 debt that she owes to Nina. Mary’s home is sold at auc¬tion for $80,000.
-Refer to Fact Pattern 19-2.Mary will receive

Question

Fact Pattern 19-2 
Mary’s home is in a state that has a $30,000 homestead exemption. Mary de¬faults on a $60,000 debt that she owes to Nina. Mary’s home is sold at auc¬tion for $80,000.
-Refer to Fact Pattern 19-2.Mary will receive

Quizplus · Accepted Answer

Mary's home is exempt from the debt up to $30,000. The remaining $30,000 is used to pay off the debt, leaving Mary with $50,000 from the sale of her home.