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 Without A Will
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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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FAQ
Many people reach an agreement about the terms of payment after the court decides how much money one party must pay the other. If there is no agreement, the winning party can begin the collections process. The clerk of superior court will record the judgment, and interest will begin to accrue if it is not paid.
You are judgment proof if all of the property you own fits within the North Carolina exemptions. These exemptions apply to everyone in North Carolina, whether they have filed a bankruptcy case or not.
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 judgment and the lien are valid for ten years following the rendition of the judgment. After a judgment becomes a lien upon the debtor's real property, any subsequent change in ownership is subject to the lien.
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.