Maine § 14 §4423 Exempt property acquired within 90 days

Maine Statutes

§ 14 §4423 — Exempt property acquired within 90 days

Maine·Title 14 COURT PROCEDURE -- CIVIL·Part 5 PROVISIONAL REMEDIES; SECURITY·Ch. 507 ATTACHMENTS

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 under section 4422, his interest shall not be exempt to the extent that the acquisition, improvement or increase in value exceeds the reasonable needs of the debtor or his dependents.

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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 under section 4422, his interest shall not be exempt to the extent that the acquisition, improvement or increase in value exceeds the reasonable needs of the debtor or his dependents.

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