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Members consider raising New Hampshire homestead exemption after homeowners recount litigation and leverage concerns
Summary
Representative Melissa Litchfield and supporters urged raising the state homestead exemption to better match current home values and to protect homeowners from judgments; attorneys and lawmakers discussed bankruptcy interactions, trusts, domestic-support exceptions and whether $500,000–$1,000,000 is appropriate.
The committee heard testimony on House Bill 617 on Feb. 4, a proposal to raise New Hampshire’s statutory homestead exemption to better reflect modern property values and protect families’ home equity from creditor judgments. Representative Melissa Litchfield, the bill’s sponsor, said the current $120,000 exemption has not kept pace with property values and urged an increase, with discussion focusing on figures between $500,000 and $1,000,000.
Representative Litchfield described the rationale in both…
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