Missouri Homestead

thanks for all you do….my question is …i have a judgement against me for 20k.. i want to know if i was to sell my house and made any profit would they be able to take any or all up to the 20k…this is my only home that i live in..i live in missouri.

Tom

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Hello Tom,

Homestead laws vary by state, but it appears the first $15,000 of equity in your homestead property in Missouri is protected.  Specifically, section 513.475 of Missouri Statutes reads (in part):

“The homestead of every person, consisting of a dwelling house and appurtenances, and the land used in connection therewith, not exceeding the value of fifteen thousand dollars, which is or shall be used by such person as a homestead, shall, together with the rents, issues and products thereof, be exempt from attachment and execution.”

Thanks for the questions and hope this helps.

Paul

This author is not an attorney and this information should not be considered legal advice.  Please consult an attorney for legal advice.

(source=moga.mo.gov/statutes/C500-599/5130000475.HTM)