§4421. Definitions As used in this article, unless the context otherwise indicates, the following words have the following meanings. [PL 1981, c. 431, §2 (NEW).] 1. Dependent. “Dependent” includes a spouse, whether or not actually dependent. [PL 1981, c. 431, §2 (NEW).] 1-A. Debtor. “Debtor” means an individual debtor. [PL 1983, c. […]
§4422. Exempt property The following property is exempt from attachment and execution, except to the extent that it has been fraudulently conveyed by the debtor: [PL 2021, c. 382, §2 (AMD).] 1. Residence. A debtor’s residence. The exemption of a debtor’s residence is subject to this subsection. A. Except as provided in paragraph […]
§4423. Exempt property acquired within 90 days Notwithstanding section 4424, if within 90 days of the attachment, or, in a proceeding under the United States Code, Title 11, the date of the filing of the petition, the debtor transfers his nonexempt property and as a result acquires, improves or increases in value property otherwise exempt […]
§4424. Interest in excess of exemption 1. Forced sale. If the debtor’s interest in any property exempt under section 4422 exceeds the exempt amount, the whole of the property may be sold. [PL 1981, c. 431, §2 (NEW).] 2. Distribution of proceeds. The proceeds of a sale under subsection 1 shall be distributed in […]
§4425. Exceptions 1. Residence. The debtor’s interest in a residence shall not be exempt from claims secured by real estate mortgages on or security interests in the residence or claims of lien creditors under Title 10, chapter 603. [PL 1981, c. 431, §2 (NEW).] 2. Other property. The debtor’s interest in other property shall […]
§4426. Exemptions in bankruptcy proceedings Notwithstanding anything to the contrary in 11 United States Code, Section 522(b), a debtor may exempt from property of the debtor’s estate under 11 United States Code only that property exempt under 11 United States Code, Section 522(b)(3)(A) and (B), except that any debtor eligible for a residence exemption under […]
