Bill Text: NH HB1311 | 2012 | Regular Session | Chaptered

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Bill Title: Changing a statutory reference to reflect the current homestead exemption amounts.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2012-05-03 - House Signed By Governor 05/02/2012; Effective 07/01/2012; Chapter 0031 [HB1311 Detail]

Download: New_Hampshire-2012-HB1311-Chaptered.html

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CHAPTER 31

HB 1311 – FINAL VERSION

2012 SESSION

12-2647

05/09

HOUSE BILL 1311

AN ACT changing a statutory reference to reflect the current homestead exemption amounts.

SPONSORS: Rep. Giuda, Merr 7

COMMITTEE: Judiciary

ANALYSIS

This bill updates a reference to the homestead exemption amount in the notice provided to homeowners prior to an execution sale of the property.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

12-2647

05/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Twelve

AN ACT changing a statutory reference to reflect the current homestead exemption amounts.

Be it Enacted by the Senate and House of Representatives in General Court convened:

31:1 Levy of Executions on Real Estate; Notice of Homestead Exemption. Amend RSA 529:20-a to read as follows:

529:20-a Notice of Homestead Exemption. Along with the notice required under RSA 529:20, the party in whose name the execution has issued shall provide to any person who resides or appears to reside on the real estate to be sold, the following notice by certified mail:

NOTICE

IF YOU OR YOUR SPOUSE OWNS AND RESIDES IN THIS PROPERTY, YOU AND/OR YOUR SPOUSE MAY BE ENTITLED TO A HOMESTEAD EXEMPTION PURSUANT TO RSA 480:1. THIS EXEMPTS $[30,000] 100,000 FOR A SINGLE PERSON AND $[60,000] 200,000 FOR A MARRIED COUPLE.

IN ORDER TO CLAIM THIS EXEMPTION, YOU MUST NOTIFY THE SHERIFF OF THE COUNTY IN WHICH THE REAL ESTATE IS SITUATED AND THE JUDGMENT CREDITOR OF THE AMOUNT OF YOUR HOMESTEAD CLAIM IN WRITING. IF YOU DO SO BEFORE THE SALE, THE SHERIFF MUST PAY YOU THE AMOUNT OF YOUR HOMESTEAD EXEMPTION BEFORE PAYING THE JUDGMENT CREDITOR FROM THE PROCEEDS OF THE SALE. IF, HOWEVER, THE JUDGMENT CREDITOR FILES A MOTION IN COURT CHALLENGING YOUR ENTITLEMENT TO OR THE AMOUNT OF THE HOMESTEAD EXEMPTION, THE SHERIFF SHALL NOT DISTRIBUTE THE PROCEEDS FROM THE SALE UNTIL FURTHER ORDER OF THE COURT.

IF YOU DO NOT NOTIFY THE SHERIFF AND THE CREDITOR OF YOUR EXEMPTION UNTIL AFTER THE SALE, THE CREDITOR NEED NOT PAY YOU THE AMOUNT OF YOUR HOMESTEAD EXEMPTION UNTIL THE EXPIRATION OF THE ONE-YEAR PERIOD DURING WHICH YOU MAY REDEEM THE PROPERTY PURSUANT TO RSA 529:26.

IF THE SHERIFF RECEIVES YOUR NOTICE OF HOMESTEAD EXEMPTION PRIOR TO THE SALE, THE SHERIFF MAY NOT SELL THE PROPERTY FOR LESS THAN THE AMOUNT OF THE CLAIMED HOMESTEAD EXEMPTION WITHOUT FURTHER ORDER OF THE COURT.

31:2 Effective Date. This act shall take effect 60 days after its passage.

Approved: May 2, 2012

Effective Date: July 1, 2012