§ 1C-1603 – Procedure for setting aside exempt property.
1C-1603. Procedure for setting aside exempt property. (a) Motion or Petition; Notice. – (1) After judgment has been entered against a judgment debtor, that person’s exempt property may be designated by motion. (2) Repealed by Session Laws 1981 (Regular Session, 1982), c. 1224, s. 10. (3) The clerk or district court judge may determine that […]
§ 1C-1604 – Effect of exemption.
1C-1604. Effect of exemption. (a) Property allocated to the debtor as exempt is free of the enforcement of the claims of creditors for indebtedness incurred before or after the exempt property is set aside, other than claims exempted by G.S. 1C-1601(e), for so long as the debtor owns it. When the property is conveyed to […]
§ 1C-1601 – What property exempt; waiver; exceptions.
1C-1601. What property exempt; waiver; exceptions. (a) Exempt property. – Each individual, resident of this State, who is a debtor is entitled to retain free of the enforcement of the claims of creditors: (1) The debtor’s aggregate interest, not to exceed thirty-five thousand dollars ($35,000) in value, in real property or personal property that the […]
§ 1C-1602 – Alternative exemptions.
1C-1602. Alternative exemptions. The debtor may elect to take the personal property and homestead exemptions provided in Article X of the Constitution of North Carolina instead of the exemptions provided by G.S. 1C-1601. If the debtor elects to take his constitutional exemptions, the exemptions provided in G.S. 1C-1601 shall not apply and in that event […]