Legal Question in Credit and Debt Law in Indiana

debts and home stead exemption

Can a creditor place a lien on a residence and for close on the property if the person owing the debt has the remainder of a Life Estate? Does the homestead exemption apply

without filing for bankruptcy? The house in question is appraised by the tax collector at 17000. the amount owed is $44700. We have

$20000 from Insurance to apply to this bill leaving $24700 to pay. Can they legally foreclose on the property?

Asked on 10/29/08, 4:48 pm

1 Answer from Attorneys

Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: debts and home stead exemption

A life estate does qualify for protection in accordance with the Florida homestead statutes.

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Answered on 10/29/08, 5:07 pm

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