Fact Pattern 15-1 (Questions 12-15 apply)
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 15-1. Nina may recover

Question

Quizplus · Accepted Answer

Nina may recover up to the amount of the debt owed to her, which is $60,000. However, Mary's home is also subject to the $30,000 homestead exemption, which means that up to $30,000 of the proceeds from the sale of the home are exempt from creditor claims. Therefore, Nina may recover the remaining $50,000 ($80,000 - $30,000 = $50,000).

Fact Pattern 15-1 (Questions 12-15 Apply)