Property OwnershipGeneralMEDIUM
North Carolina's Homestead Exemption protects:
Correct Answer
A) $35,000 of equity for residents
North Carolina's constitutional homestead exemption protects $35,000 of equity in a residence from forced sale by creditors.
Answer Options
A
$35,000 of equity for residentsB
$1,000 plus $500 per dependentC
Unlimited protectionD
No homestead exemption existsVideo Explanation3 min
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Related Topics & Key Terms
Related Topics:
property-creditor-rightsbankruptcy-exemptionsprimary-residence-requirements
Key Terms:
homestead exemptionNorth Carolinaequity protectionN.C. Gen. Stat. § 1C-1601creditor protection
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