Fact Pattern
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 15-2B.Mary will receive

Question

Fact Pattern 
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 15-2B.Mary will receive

Quizplus · Accepted Answer

Mary will receive the $30,000 homestead exemption, which will be applied towards her debt to Nina, leaving a remaining balance of $30,000. Since the home sold at auction for $80,000, the remaining balance will go towards paying off the remaining debt, leaving Mary with no proceeds from the sale.

Fact Pattern Mary's Home Is in a State That Has a $30,000