North Carolina Individual Debtor — JoinTenantnc— - Wildcard Exemption - Partial Avoidance is a form of protection from creditors available to individuals residing in North Carolina. The wildcard exemption allows individuals to protect a certain amount of property from attachment by creditors. The amount of the wildcard exemption varies by state, but in North Carolina it is $5,000. The joint tenancy exemption allows individuals to protect their real and personal property from creditors when it is held in joint tenancy with another person. This exemption also allows the surviving tenant to take ownership of the property upon the death of the other tenant. Lastly, the partial avoidance provision allows individuals to protect any increase in the value of their property from attachment by creditors. There are two types of North Carolina Individual Debtor — JoinTenantnc— - Wildcard Exemption - Partial Avoidance: Homestead Exemption and Wildcard Exemption. The Homestead Exemption protects up to $35,000 in equity in a primary residence from attachment by creditors. The Wildcard Exemption protects up to $5,000 in equity in any property from attachment by creditors.
North Carolina Individual Debtor - Joint Tenancy - Wildcard Exemption - Partial Avoidance
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