§ 529:25-a — Claims for Homestead Exemptions

New Hampshire § 529:25-a

• Jurisdiction: New Hampshire
• Title LIV: EXECUTIONS, LEVIES, BAIL, AND THE RELIEF OF POOR DEBTORS
• Ch. 529: LEVY OF EXECUTIONS ON REAL ESTATE
• Subdivision: Levy by Sale

Text

I. Notwithstanding the provisions of RSA 529:25, if prior to the sale the debtor or the debtor's spouse makes a written claim to the sheriff and the party in whose favor the execution issued, that he is entitled to a homestead exemption pursuant to RSA 480:1, the sheriff shall not sell the property for less than the amount of the homestead exemption claimed. The proceeds of the sale shall be held by the sheriff for 10 days following the sale in order to give the creditor the opportunity to challenge the homestead exemption pursuant to paragraph II. If such challenge is not filed within 10 days of the sale, the proceeds shall be distributed by first paying the amount of the homestead exemption to the debtor and applying the remainder to the satisfaction of the execution.
II. If, within 10 days following the sale, the party on whose behalf the execution issued objects to the existence or the amount of the exemptions claimed by the debtor, the creditor shall file a motion in the court issuing the execution requesting a ruling on the exemption, and the sheriff shall not distribute the proceeds until the court has issued its ruling on the motion.
III. The debtor may claim the homestead exemption by providing written notice to the creditor at any time prior to the expiration of the redemption period set forth in RSA 529:26, after which time all said claims shall be barred. Claims of exemptions which are not filed until after the sale of the property shall be paid by the creditor upon the expiration of the redemption period, unless the creditor has contested the exemption in court and the court has not issued its ruling.
IV. If the purchaser at the sale is the creditor in whose favor the execution issued, said judgment creditor shall not be required to pay to the debtor the amount of the homestead until the expiration of the redemption period set forth in RSA 529:26, or until the debtor voluntarily or involuntarily vacates the property, whichever occurs first.
V. If the payment of the full amount of the homestead is not made to the debtor or the debtor's spouse, within 10 days of the expiration of the redemption period set forth in RSA 529:26, the sale shall be void.

Legislative History

1994, 12:4, eff. Jan. 1, 1995.