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MO HB279

Bill

Official Source

Status

Introduced

1/20/2011

Primary Sponsor

Michael Corcoran

Click for details

Origin

House of Representatives

2011 Regular Session

AI Summary

  • Repeals and replaces section 513.475, RSMo, regarding homestead exemptions under the Senior Citizens Protection Act
  • Increases homestead exemption value from $15,000 to $125,000 for persons age 62 or older
  • Maintains $15,000 homestead exemption for persons under age 62
  • Exemption applies to dwelling house, appurtenances, and connected land protected from attachment and execution
  • Preserves existing restrictions on individual ownership claims and spousal joint conveyance requirements

Legislative Description

Increases, from $15,000 to $125,000, the amount of equity in a homestead that can be exempt from attachment in a bankruptcy proceeding when the person is 62 years of age or older

Last Action

Public Hearing Completed (H)

4/27/2011

Committee Referrals

Financial Institutions2/2/2011

Full Bill Text

No bill text available