Sec. 1. 14 MRSA §4422, sub-§1, ķA, as amended by PL 2001, c. 306, §1, is further amended to read:

A. Except as provided in paragraph B, the debtor's aggregate interest, not to exceed $25,000 $50,000 in value, in real or personal property that the debtor or a dependent of the debtor uses as a residence, in a cooperative that owns property that the debtor or a dependent of the debtor uses as a residence, or in a burial plot for the debtor or a dependent of the debtor, provided that if minor dependents of the debtor have their principal place of residence with the debtor, the debtor's aggregate interest may not exceed $50,000 $100,000 and provided further that if the debtor's interest is held jointly with any other person or persons, the exemption may not exceed in value the lesser of $25,000 $50,000 or the product of the debtor's fractional share times $50,000 $100,000.

SUMMARY

This bill increases the value of a debtor's residence or burial plot that is exempt from attachment in a civil proceeding to $50,000, and to $100,000 if the debtor's minor dependent resides with the debtor.