Bill Text: MO HB279 | 2011 | Regular Session | Introduced
Bill Title: Increases, from $15,000 to $125,000, the amount of equity in a homestead that can be exempt from attachment in a bankruptcy proceeding when the person is 62 years of age or older
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2011-04-27 - Public Hearing Completed (H) [HB279 Detail]
Download: Missouri-2011-HB279-Introduced.html
FIRST REGULAR SESSION
96TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES SOLON (Sponsor), TILLEY, SMITH (150), SCHOELLER, RIDDLE, DIECKHAUS, DIEHL, HAMPTON, ALLEN, McGHEE, KELLY (24), WETER, LANT, WRIGHT, DAY, FRANZ, CROSS, HOUGH, NANCE, GATSCHENBERGER, LASATER AND FITZWATER (Co-sponsors).
0582L.03I D. ADAM CRUMBLISS, Chief Clerk
AN ACT
To repeal section 513.475, RSMo, and to enact in lieu thereof one new section relating to the senior citizens protection act.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 513.475, RSMo, is repealed and one new section enacted in lieu thereof, to be known as section 513.475, to read as follows:
513.475. 1. The homestead of every person, consisting of a dwelling house and appurtenances, and the land used in connection therewith, not exceeding the value of fifteen thousand dollars for persons less than sixty-two years of age and one hundred twenty-five thousand dollars for persons sixty-two years of age or older, which is or shall be used by such person as a homestead, shall, together with the rents, issues and products thereof, be exempt from attachment and execution. The exemption allowed under this section shall not be allowed for more than one owner of any homestead if one owner claims the entire amount allowed under this subsection; but, if more than one owner of any homestead claims an exemption under this section, the exemption allowed to each of such owners shall not exceed, in the aggregate, the total exemption allowed under this subsection as to any one homestead.
2. Either spouse separately shall be debarred from and incapable of selling, mortgaging or alienating the homestead in any manner whatever, and every such sale, mortgage or alienation is hereby declared null and void; provided, however, that nothing herein contained shall be so construed as to prevent the husband and wife from jointly conveying, mortgaging, alienating or in any other manner disposing of such homestead, or any part thereof.
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