Motion to Claim Exempt Property - Statutory Exemptions - Use if Judgment Filed After 1-1-06 - Draft: This is an official form from the North Carolina Administration of the Courts - AOC, which complies with all applicable laws and statutes. USLF amends and updates the forms as is required by North Carolina statutes and law.
Nc Judgement Exemptions For 2018
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State:
North Carolina
Control #:
NC-CV-415
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PDF
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How to fill out North Carolina Motion To Claim Exempt Property - Statutory Exemptions - Use If Judgment Filed After 1-1-06?
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Keep in mind: In North Carolina, a creditor's ability to collect under a judgment lien will be affected by a number of factors -- including a fixed amount of value that won't be touchable if the property is the debtor's primary residence (called a homestead exemption), other liens that may be in place, and any ...
North Carolina's property exemptions usually cover most property owned by someone facing a judgment. North Carolina allows you to exempt: Up to $35,000 in equity in your primary residence. Up to $3,500 in equity in a vehicle.
The creditor with a judgment must give you a Notice of Right to Have Exemptions Designated. This document allows you to protect some of your property from being used to pay the judgment. You must complete the Motion to Claim Exempt (Statutory Exemptions). You must file the Motion within 20 days from receiving it.
In order to get to judgment execution, the initial ingredient in the post-judgment collections formula, the judgment creditor must first (1) wait for the time to file a notice of appeal has expired, which is thirty (30) days from entry of judgment (tip: be sure to serve all parties with copies of the entered judgment ...
North Carolina Homestead Exemption The homestead exemption protects up to $35,000 in equity of any real or personal property used as a residence. Both spouses must be on the title to double this exemption.