If the person that I had an auto accident with decides to sue me for personal injuries, will a homestead on my house protect it?
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If the person that I had an auto accident with decides to sue me for personal injuries, will a homestead on my house protect it?
Asked on April 15, 2017 under Bankruptcy Law, Massachusetts
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
Assuming that no lien has yet been filed on your home, then the MA homestead law should protect your home for up to $500,000 of value (i.e. if the home is worth more than $500,000, some of the equity in it may be at risk) once you filed for the homestead exemption. It will not protect your income/wages from garnishment, your personal vehicle(s), or money in bank/brokerage/etc. accounts.
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