Finance
In Louisiana, the 'homestead exemption from forced sale' provided by the Louisiana Constitution protects how much of a homeowner's equity from general creditors?
A$10,000
B$25,000
C$35,000✓ Correct
D$50,000
Explanation
Louisiana Constitution Art. XII, Sec. 9 protects $35,000 of equity in a homeowner's primary residence from forced sale by ordinary judgment creditors. However, this exemption does NOT apply to mortgage foreclosure, tax liens, or mechanics' liens.
Related Louisiana Finance Questions
- A buyer makes a 10% down payment on a $250,000 home. What is the loan-to-value ratio?
- A 'construction loan' in Louisiana is typically characterized by:
- Under Louisiana law, a mortgage is called a:
- In Louisiana, a mortgage that is 'underwater' means:
- A USDA Rural Development loan is designed for buyers in:
- Which federal agency insures FHA loans?
- Which of the following is NOT a closing cost typically paid by the buyer in Louisiana?
- Which of the following would be considered a non-conforming loan?
Practice More Louisiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Louisiana Quiz →