Real Estate Law
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You can certainly try and negotiate a settlement.And there is a homestead exemption...but that will not apply in your case (since you are selling the home you can not claim the exemption for the sale)
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That applies ONLY if you are selling to repurchase. If you are not selling to repurchase? It will not apply
Correct, if the purpose of the sale is to repurchase, you can do so.HOWEVER, you have to clear title first...and for that? You need to either pay off or negotiate a settlement with that creditor.
Sorry for the confusion.
IF the goal is to sell the home, you need to clear title (you need to have that lien removed)
There is no way to sell unless or until you do that.It is true that you can "carry over" your homestead exemption in Arizona to a new home.. However, that will not apply in your case since you have a lien on the home. So the lien holder can require you pay them before they remove the lien.
Again, sorry for the confusion
thank youThe homestead exemption is designed to protect your home from forced sale by creditors.That is true.So one option you have now is to not sell (to force the creditor to bring this to court and ask the court to order sale).In such a case, you are protected by the homestead exemption.
But that is not what you are describing...if your goal is to sell the home and purchase another? YOu need to sell it...and no one is going to purchase with that lien in place.
Again, sorry for the confusion...it is possible to carry forward the exemption in some cases...but if your goal is to sell the home, you have to remove that lien...and to do that you will need to work with the creditor...there is no process that would allow you to get around this.This is the part of my job I don't like...when the law is not in favor of my customer. I wish I could tell you that you can avoid paying this creditor and sell your home but I can only provide you information based on the law so that you can act on the best available information to you...I wish I had better news, but can only hope you recognize and understand my predicament and don't shoot the messenger. I'm sorry!
The issue is the lien. Any prospective buyer will require that the lien be removed before they pay money for the home.
That is the issue here...there is no way for you to sell the property without removing the lien. It simply is not possible.Now...say there was no lien...and say you sold and the next day a creditor tried to attach the proceeds from the sale? You could defend claiming they are exempt (under the homestead exemption)Again, that will not help your case (since you have a lien on the home)
It WOULD apply in a court ordered sale (like bankruptcy)...you could ask the court to exempt the exemption amount as part of the bankruptcy process