Maine Statutes
§ 14 §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.
2.Distribution of proceeds.
The proceeds of a sale under subsection 1 shall be distributed in the following order:
3.Exception for residence.
With respect to a residence in which the debtor has an exempt interest, the debtor may designate as exempt from sale under subsection 1 any part of the residence having a value not in excess of the amount of his exemption.
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Legislative History
PL 1981, c. 431, §2 (NEW).
Nearby Sections
15
§ 14 §4401
Items exempt§ 14 §4421
Definitions§ 14 §4422
Exempt property§ 14 §4423
Exempt property acquired within 90 days§ 14 §4424
Interest in excess of exemption§ 14 §4425
Exceptions§ 14 §4426
Exemptions in bankruptcy proceedings§ 14 §4452
Writ of attachment from District Court§ 14 §4453
Attachment of right of redemption