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asterism wrote

Reply to comment by asterism in Friday Free Talk by tuesday

So if anyone cares. Homestead laws are basically laws that keep organizations from forcing a sale of your home to pay off a debt.

In TN law there is a homestead exemption (basically a dollar amount) meaning they can force you to sell your house but they have to make sure you get the exemption amount first and then they take the rest of the proceeds needed to pay back the debt. tthey are also allowed to garnish 25% of your check.

In my state they simply arent allowed to force a sale (though they can get a levy) and they cant garnish the check of someone getting state assisstance.

so vastly different picture depending on how and when my state law applies.

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tuesday OP wrote

Oh, interesting.

I've never heard of that. But I don't know shit about real estate or "real property" law.

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asterism wrote

Yeah debtors can force you to sell almost anything to satisfy a debt including your home unless the state has homestead laws (i believe most do). how often that happens I dont know and they got to get approval from a judge.

In TN you get an exemption on personal property up to 10,000 dollars. They also cant force you to sell your clothes, your family photos, and "the family Bible"

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