Maine Revised Statutes Title 14 Sec. 4425 – Exceptions
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1. Residence. The debtor‘s interest in a residence shall not be exempt from claims secured by real estate mortgages on or security interests in the residence or claims of lien creditors under Title 10, chapter 603.
[PL 1981, c. 431, §2 (NEW).]
Terms Used In Maine Revised Statutes Title 14 Sec. 4425
- Debtor: means an individual debtor. See Maine Revised Statutes Title 14 Sec. 4421
- Lien: A claim against real or personal property in satisfaction of a debt.
- Real estate: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72
2. Other property. The debtor’s interest in other property shall not be exempt from claims secured by purchase money security interests in the property, except that the debtor’s interest in property otherwise exempt under section 4422, subsections 8 and 9 shall not be exempt from claims secured by security interests in the property.
[PL 1981, c. 431, §2 (NEW).]
SECTION HISTORY
PL 1981, c. 431, §2 (NEW).