Real property including condo to $3500; property cannot exceed 1 lot in town, village, city, or 40 acres elsewhere.
So, after subtracting the mortgage, and the exemption, the remaining balance is subject to attachment by a creditor or trustee, if any, if the property is not held in tennancy by the entirety.
The creditor could object to the post-judgment transfer. You should discuss this with your real estate/bankruptcy attorney as soon as possible. Good luck
Yik! Just to clarify - our home has no mortgage & even in this market, value would be approx. 1.5M - does that mean that all of that beyond the $3,500. you discussed above is subject to attachment in the case of a judgement that exceeds that? (It does, over 15M)
If that's so, do you mean that they can force us to sell if they want to get nasty?
Don't know if this is the way to follow up with still another question or if I'm supposed to go through ask a question again - but I'll start here.
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