Examlex
Which of the following is true?
Homestead Exemption
A legal provision that protects a homeowner's primary residence from certain creditors, reducing property taxes.
Bankruptcy
The legal status of a person or entity that cannot repay the debts it owes to creditors, leading to a legal process for debt resolution.
Equity
The value of an owner's interest in a property, calculated as the property's value less any debts or liens against it.
Paralegals
Trained legal assistants who perform various legal tasks and support lawyers in their work, but are not licensed attorneys themselves.
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