How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Barrister Your Own Question
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33803
Experience:  15 years real estate, Realtor. Landlord 26 years
19958803
Type Your Real Estate Law Question Here...
Barrister is online now
A new question is answered every 9 seconds

If a person who owns a home and has homesteaded his home

Customer Question

If a person who owns a home and has homesteaded his home sells his house has personal judgements what happens to the equity money at closing. Does the home owner receive his equity money? Or, is it attached at the Title company?
JA: You just pay a $5 deposit now and the rest only when you get a reply from the real estate lawyer. All of this is 100% satisfaction guaranteed, so you can get a refund if you're not happy for any reason. Because real estate law varies from place to place, can you tell me what state this is in?
Customer: Texas
JA: Has any paperwork been filed?
Customer: The contract of sale or the judgements?
JA: Anything else you want the lawyer to know before I connect you?
Customer: No
Submitted: 23 days ago.
Category: Real Estate Law
Expert:  Barrister replied 23 days ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

.

Is the person putting that money back into a new home?

.

.

thanks

Barrister

Customer: replied 23 days ago.
Not at this time
Expert:  Barrister replied 23 days ago.

Ok, then under TX law, those proceeds are exempt for 6 months from creditors. After that they could come after them. So the seller will receive them outright.

.

TX Property Code Sec. 41.001. INTERESTS IN LAND EXEMPT FROM SEIZURE.

.

(c) The homestead claimant's proceeds of a sale of a homestead are not subject to seizure for a creditor's claim for six months after the date of sale.

.

.

thanks

Barrister

Related Real Estate Law Questions