Finance
NC's 'Homestead Preservation Act' exempts from creditors which portion of a primary residence's equity?
AAll equity
BA limited amount set by NC Constitution (currently $35,000 for homeowners under 65; $60,000 for those 65+)✓ Correct
C50% of equity
DNo equity — homes are fully subject to creditor claims
Explanation
NC's homestead exemption (Article X, NC Constitution and G.S. 1C-1601) protects $35,000 of equity in a primary residence from general creditors (up to $60,000 for homeowners 65+).
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