Asked by Katelyn Nartiff on Apr 26, 2024
Verified
In determining the debtor's interest in property:
A) the homestead exemption is deducted.
B) the amount of any liens against the property must be deducted.
C) the debtor's equity is subtracted from the property's appraisal value.
D) three independent appraisers evaluate the property and the courts uses the average value.
Homestead Exemption
A legal provision that protects a portion of a homeowner's value in their primary residence from creditors and property taxes.
Liens
Legal claims or rights against property or assets to secure the payment of a debt or obligation.
- Comprehend the hierarchy and secured claims during the distribution of the debtor's assets.
Verified Answer
MB
Matthew BustamenteApr 27, 2024
Final Answer :
B
Explanation :
In determining the debtor's interest in property,the amount of any liens against the property must be deducted.
Learning Objectives
- Comprehend the hierarchy and secured claims during the distribution of the debtor's assets.