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As a point of initial inquiry, the value permitted by the North Dakota homestead exemption law
applies to equity value, above all valid liens that may attach to a
primary residence. This equity value is established by the North Dakota Homestead Exemption Act,
which provides in part, that $80,000 may be claimed as exempt in Chapter
7 bankruptcy cases. The method of appraisal however is a constant
complaint contained in motions objecting to the homestead exemption,
with creditors hoping to increase appraised value and target excess
value for attachment. Upon receiving a motion in objection, the North
Dakota court typically schedules a hearing, in which appraisal methods,
tax evaluations, and North Dakota homestead exemption forms are
admissible evidence.
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