Except as provided in this Chapter, the residence of the judgment debtor is exempt from attachment, execution or forced sale for the payment of any judgment up to the amount specified in subsection (g) of this section.
The residence consists of the dwelling house or mobile home in which the judgment debtor resides or intends to reside. Residence also includes those buildings or structures necessarily connected with the use and enjoyment of the dwelling house or mobile home, or buildings or structures when they are used with the land for its benefit, and the land on which the residence is located.
If the judgment debtor is married, the residence may consist of the jointly owned property of the spouses, or the separate property of either spouse.
If the judgment debtor is not married, the residence may consist of any of his or her real property and the improvements thereon which are used for the judgment debtor’s primary residence.
The same premises and personal property may not be claimed separately by both husband and wife for the purpose of increasing the amount of the residence exemption.
The “net value” of a residence is the market value minus all liens and encumbrances.
The total amount of the residence exemption shall not exceed the lesser of:
(a) The total net value of the lands, residence and improvements, as described in this Section; or
(b) The sum of one hundred thousand dollars ($100,000).
(Res. 09-A-128, 12/8/2009)