Fact Pattern 24-2
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 24-2. Other property Mary may own that may be ex?empt from satisfaction of judgment debts includes

Question

Fact Pattern 24-2 
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 24-2. Other property Mary may own that may be ex?empt from satisfaction of judgment debts includes

Quizplus · Accepted Answer

The fact pattern suggests that Mary's home is subject to the homestead exemption, which would exempt $30,000 of the home's value from satisfaction of judgment debts. Other types of property may also be exempt from satisfaction of judgment debts under state law, but the fact pattern does not provide enough information to determine whether any specific property that Mary may own would qualify for an exemption. However, tools that Mary uses in her trade are often exempt from satisfaction of judgment debts under state law, so it is possible that Mary's tools would be exempt in this case.