Maine § 4424. - Interest in excess of exemption
Full text of Maine Maine Revised Statutes § 4424. — Interest in excess of exemption, with citation guidance and answers to common questions.
§ 4424.. Interest in excess of exemption
1. Forced sale. If the debtor's interest in any property exempt under section 4422 exceeds the exempt amount, the whole of the property may be sold.
2. Distribution of proceeds. The proceeds of a sale under subsection 1 shall be distributed in the following order:
A. To the debtor in the amount of his exempt interest; [PL 1981, c. 431, §2 (NEW).]
B. To the creditor attaching or executing on the property; and [PL 1981, c. 431, §2 (NEW).]
C. To the debtor, the balance of the proceeds. [PL 1981, c. 431, §2 (NEW).]
3. Exception for residence. With respect to a residence in which the debtor has an exempt interest, the debtor may designate as exempt from sale under subsection 1 any part of the residence having a value not in excess of the amount of his exemption.
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 4424.
What does Maine Revised Statutes § 4424. cover?
Section 4424. ("Interest in excess of exemption") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 4424.?
A common citation format is "Maine Revised Statutes § 4424." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 4424. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.