Finance
The Maine 'homestead protection' under federal bankruptcy law allows a debtor to protect up to what amount of equity in their primary residence?
A$47,500
BAn amount set by Maine law that is updated periodically✓ Correct
C$100,000 federal limit
DNo protection for real estate in bankruptcy
Explanation
Maine allows debtors to claim a homestead exemption in federal bankruptcy proceedings. The exact amount is set by Maine statute and adjusted periodically; debtors can choose between the state and federal exemption amounts.
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