A Texas homeowner has a 12-acre urban homestead. A creditor obtains a judgment for $200,000 and seeks to force the sale of the entire property. Under Texas homestead law, what is the result?
Correct Answer
A) Only 10 acres are protected as the homestead; the excess 2 acres may be subject to the creditor's judgment
Under Texas Property Code §41.002(a), the urban homestead is limited to 10 acres. When the property exceeds the homestead limit, only 10 acres receive homestead protection. The excess 2 acres are not protected and may be subject to creditor claims and forced sale to satisfy the judgment.
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- → A Texas homeowner defaults on a personal loan of $50,000. The creditor obtains a judgment and seeks to force the sale of the homeowner's primary residence to satisfy the debt. Under Texas homestead law, can the creditor force the sale?
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- → Mark and Lisa are married and live in Texas. During their marriage, Mark purchases an investment property using earnings from his salary. Under the Texas Family Code, how is this property classified?
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Previous Question
Under the Texas Constitution, a homestead may be subject to forced sale for certain specific types of debts. Which of the following debts can NOT result in forced sale of a Texas homestead?
Next Question
A Texas homeowner sells their homestead and receives $500,000 in sale proceeds. Before purchasing a new home, a creditor with a $100,000 judgment attempts to garnish the proceeds. Under Texas law, are the homestead sale proceeds protected?