Patricia owns a home in Lowell, Massachusetts as her primary residence and has recorded a Declaration of Homestead at the Middlesex County Registry of Deeds. A contractor who performed renovation work on her home obtains a judgment against her for $450,000 in unpaid fees. Under MGL Chapter 188, how much of Patricia's home equity is protected from this judgment?
Correct Answer
A) $500,000, because Patricia recorded a Declaration of Homestead entitling her to the maximum declared homestead protection
Under MGL Chapter 188, recording a Declaration of Homestead at the Registry of Deeds provides protection of up to $500,000 of equity in the owner's primary residence from unsecured creditor claims. Because Patricia has properly recorded her Declaration of Homestead, she is entitled to the full $500,000 protection. A contractor's judgment for unpaid services is generally an unsecured claim (unless a mechanic's lien was properly perfected), so Patricia's $500,000 homestead protection would shield up to that amount of her equity.
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