55-1008. HOMESTEAD EXEMPT FROM EXECUTION — WHEN PRESUMED VALID. (1) Except as provided in section 55-1005, Idaho Code, the homestead is exempt from attachment and from execution or forced sale for the debts of the owner up to the amount specified in section 55-1003, Idaho Code. The proceeds of the voluntary sale of the homestead in good faith for the purpose of acquiring a new homestead, and proceeds from insurance covering destruction of homestead property held for use in restoring or replacing the homestead property, up to the amount specified in section 55-1003, Idaho Code, shall likewise be exempt for one (1) year from receipt, and also such new homestead acquired with such proceeds.
(2) Every homestead created under this chapter is presumed to be valid to the extent of all the property claimed exempt, until the validity thereof is contested in a court of general jurisdiction in the county in which the homestead is situated.
History:
[55-1008, added 1989, ch. 371, sec. 2, p. 936.]
Structure Idaho Code
Title 55 - PROPERTY IN GENERAL
Section 55-1001 - DEFINITIONS.
Section 55-1002 - FROM WHAT PROPERTY SELECTED.
Section 55-1003 - HOMESTEAD EXEMPTION LIMITED.
Section 55-1005 - TO WHAT JUDGMENTS SUBJECT.
Section 55-1006 - PRESUMPTION OF ABANDONMENT — DECLARATION OF NONABANDONMENT.
Section 55-1007 - CONVEYANCE OR ENCUMBRANCE BY HUSBAND AND WIFE.
Section 55-1008 - HOMESTEAD EXEMPT FROM EXECUTION — WHEN PRESUMED VALID.
Section 55-1009 - JUDGMENT AGAINST HOMESTEAD OWNER — LIEN ON EXCESS VALUE OF HOMESTEAD PROPERTY.