Property; debtor's aggregate interest in real property or personal property used as a residence; revise exemption

Summary

If enacted, this bill would revise the Georgia homestead exemption under Code Section 44-13-100, adjusting the amount a debtor can protect in a residence (including a spouse's primary residence) in bankruptcy or insolvent estates. Lenders, credit unions, and servicers may see higher equity protection limits for borrowers, potentially reducing recoveries in bankruptcy or foreclosure.