Margaret owns a home on a 0.20-acre lot within the city limits of Little Rock, Arkansas. She has fallen behind on unsecured debts and a creditor has obtained a judgment against her. The home is Margaret's primary residence. Which of the following best describes the protection available to Margaret under Arkansas law?
Correct Answer
B) The homestead exemption protects her home because the lot is within the urban 1/4-acre limit.
Under Ark. Const. Art. 9, §§ 3–6, an urban homestead is protected up to 1/4 acre. Margaret's 0.20-acre lot is within the city limits and is smaller than 1/4 acre, so her entire lot qualifies for the homestead exemption. The Arkansas constitutional homestead exemption does not impose a dollar-value cap on the protected property.
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Related Topics & Key Terms
Key Terms:
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