New Hampshire Revised Statutes 529:25-a – Claims for Homestead Exemptions
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I. Notwithstanding the provisions of N.H. Rev. Stat. § 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 N.H. Rev. Stat. § 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 N.H. Rev. Stat. § 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 N.H. Rev. Stat. § 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 N.H. Rev. Stat. § 529:26, the sale shall be void.
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.
Terms Used In New Hampshire Revised Statutes 529:25-a
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
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 N.H. Rev. Stat. § 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 N.H. Rev. Stat. § 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 N.H. Rev. Stat. § 529:26, the sale shall be void.