Homestead Exemption Protects Against Abstract Judgment Liens
Answering a question certified to it from the United States Bankruptcy Court for the District of Nevada, the Nevada Supreme Court held that the homestead expemtion created by NRS 115.010 prevails over an abstract judgment lien prmitted by NRS 17.150. In In re Contrevo, the Court address only the situation where the equity in the property was exempt both at the time of the recording of the abstract judgment lien and at the time of transfer of theproperty. The Court expressly declined to address the sitution where a lien might have been recorded while there was no unexampt equity surplus, but the equity in the property increases so that a surplus exists at the time of transfer.
