Fact Pattern 15-1 (Questions 12-15 Apply)

question 9

Multiple Choice

Fact Pattern 15-1 (Questions 12-15 apply)
Mary's home is in a state that has a $30,000 homestead exemption. Mary de?faults on a $60,000 debt that she owes to Nina. Mary's home is sold at auc?tion for $80,000.
-Refer to Fact Pattern 15-1. If Nina recovers less than she is owed, she can realize the difference from

• A) any property that Mary owns.
• B) only exempt property that Mary owns.
• C) only nonexempt property that Mary owns.
• D) property that any other member of Mary's family owns.

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Definitions:

Lipids

A broad group of naturally occurring molecules that include fats, waxes, sterols, fat-soluble vitamins, and others, characterized by their solubility in nonpolar solvents.

Oils

Organic compounds that are liquid at room temperature, often used for cooking, lubrication, and as biofuel.

Fats

Organic compounds consisting of triglycerides that are solid at room temperature, used as a major energy store in animals.

Triglyceride

A type of fat (lipid) found in your blood, formed from a single molecule of glycerol and three fatty acids.