CHAPTER 47

H.P. 202 - L.D. 247

An Act To Increase the Value of Real and Personal Property

Exempt from Attachment

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 14 MRSA §4422, sub-§1, ¶A, 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 $35,000 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 $70,000 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 $35,000 or the product of the debtor's fractional share times $50,000 $70,000.

Sec. 2. 14 MRSA §4422, sub-§1, ¶B, as enacted by PL 1989, c. 286, §1, is amended to read: