What Are the Homestead Laws in Montana?
Full Question:
Answer:
No, the homestead exemption only applies to the homestead. Once the homestead is converted to cash, the homestead protection no longer applies. Please see the following Montana statutes:
70-32-201. Homestead exempt from execution generally.
The homestead is exempt from execution or forced sale, except as in this chapter provided.
70-32-202. Execution allowed under certain judgments.
The homestead is subject to execution or forced sale in satisfaction of judgments obtained:
(1) on debts secured by construction or vendors' liens upon the premises;
(2) on debts secured by mortgages on the premises, executed and acknowledged by the husband and wife or by an unmarried claimant; or
(3) on debts secured by mortgages on the premises, executed and recorded before the declaration of homestead was filed for record.
