Maryland SB939 alters exemptions for residential real property in bankruptcy proceedings.

Maryland SB939 modifies the exemptions for owner-occupied residential real property in bankruptcy proceedings. It specifies that certain residential real property, including condominium units and manufactured homes converted to real property, can be exempted. The bill also addresses exemptions for property held in a revocable trust. It sets different exemption amounts based on factors such as age, veteran status, and disability. The exemption amounts are subject to annual adjustments based on the Consumer Price Index.

Maryland SB939 alters exemptions for residential real property in bankruptcy proceedings.

Maryland SB939 modifies the exemptions for owner-occupied residential real property in bankruptcy proceedings. It specifies that certain residential real property, including condominium units and manufactured homes converted to real property, can be exempted. The bill also addresses exemptions for property held in a revocable trust. It sets different exemption amounts based on factors such as age, veteran status, and disability. The exemption amounts are subject to annual adjustments based on the Consumer Price Index.