Section 2.25 Persons Entitled to Exemption Rights

• Library: Creditors' Remedies (2009 Ed. + 2014 Supp)

5. (§2.25) Persons Entitled to Exemption Rights

When a homestead qualifies as exempt from execution under the homestead exemption statutes, it is generally considered absolutely exempt from sale under execution for payment of debts contracted after the acquisition of the homestead, and it is unnecessary for any formal claim of exemption to be made. The property is only exempt to the extent allowed by statute, and surplus equity in the judgment debtor's favor is normally available for execution. See §2.27, infra. The failure to claim a homestead before an unauthorized execution sale does not estop the judgment debtor from asserting the exemption rights later, even...