[CLBS] IC 55-1008 versus 55-1113

[Matthew Christensen]

If it's a sale by the Debtor, she has a year to reinvest the proceeds (55-1008) (unless the year is tolled for some reason).  If it's a sale of the homestead property by some other party, executing on a judgment lien, and the homestead amount is paid to the debtor after that execution sale, she has 6 months to reinvest the proceeds (again, unless the 6 months is tolled for some reason).  The difference between the two is based on whether it's a voluntary or involuntary sale.

MTC


Matthew T. Christensen 
199 N. Capitol Blvd., Ste 200 
Boise, Idaho  83702
(208) 384-8588 
mtc at angstman.com 
  
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-----Original Message-----
From: CLBS <clbs-bounces at admws.idaho.gov> On Behalf Of Tecla Druffel
Sent: Thursday, September 5, 2019 11:54 AM
To: clbs at admws.idaho.gov
Subject: [CLBS] IC 55-1008 versus 55-1113

Hi all,

Can anyone walk me through the differences between IC 55-1008 versus 55-1113? If a debtor sells her homestead prior to filing does she have 6 months (55-1113) or one year (55-1008) to reinvest the proceeds from the sale?

Thanks,
Tecla
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