A BILL TO BE ENTITLED
AN ACT to increase the statutory homestead exemption.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 1C‑1601(a)(1) reads as rewritten:
"§ 1C‑1601.  What property exempt; waiver; exceptions.
(a)	Exempt property. – Each individual, resident of this State, who is a debtor is entitled to retain free of the enforcement of the claims of creditors:
(1)	The debtor's aggregate interest, not to exceed seventy‑five thousand dollars ($75,000) in value, in real property or personal property that the debtor or a dependent of the debtor uses as a residence or in a cooperative that owns property that the debtor or a dependent of the debtor uses as a residence.
…
(13)	The debtor's aggregate interest, not to exceed eighteen thousand five hundred dollars ($18,500) in value, in a burial plot for the debtor or a dependent of the debtor."
SECTION 2.  G.S. 1C‑1603(c) reads as rewritten:
"(c)	Statement by the Debtor. – When proceedings are instituted, the debtor shall file with the court a schedule of:
(1)	The debtor's assets, including their location;
(2)	The debtor's debts and the names and addresses of the debtor's creditors;
(3)	The property that the debtor desires designated as exempt.
The form for the statement shall be substantially as follows:
…
8. That I wish to claim my interest in the following real or personal property, or in a cooperative that owns property, that I use as a residence or my dependent uses as a residence. I understand that my total interest claimed in the residence may not exceed $75,000.
I understand that I am not entitled to this exemption if I take the homestead exemption provided by the Constitution of North Carolina in other property. I understand that if I wish to claim more than one parcel exempt I must attach additional pages setting forth the following information for each parcel claimed exempt.
Property Location:
County _______ Township _____________________________________________
Street Address _______________________________________________________
Legal Description:
Number by which county tax assessor identifies property ______________________
Description (Attach a copy of your deed or other instrument of conveyance that describes the property and indicate here: ________ or describe the property in as much detail as possible.
Attach additional sheets if necessary.)
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
Record Owner(s) _________________________________________________________
______________________________________________________________________
______________________________________________________________________
Estimated Value: ________________________________________________________
Lienholders: 
(1) Name ____________________ Current Balance _________________________
Address 	___________________________________________________________
(2) Name ____________________ Current Balance _________________________
Address 	___________________________________________________________
(3) Name ____________________ Current Balance _________________________
Address 	___________________________________________________________
(4)  If others, attach additional pages.
If you are unmarried and 65 years of age or older, specify which, if any, property listed above was previously owned by you as a tenant by the entireties or as a joint tenant with rights of survivorship and as to which the former co‑owner of the property is deceased:
…
20. That I wish to claim my interest in the following burial plots for myself or my dependents:
Property Location:
County _______ Township _____________________________________________
Street Address _______________________________________________________
Legal Description:
Description (Describe the property in as much detail as possible. Attach additional sheets if necessary.)
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
Record Owner(s) _________________________________________________________
______________________________________________________________________
______________________________________________________________________
Estimated Value: ________________________________________________________
21. That the following is a complete listing of all of my assets that I have not claimed as exempt under any of the preceding paragraphs:
Item				Location				Estimated value
________			________________			___________________
________			________________			___________________
________			________________			___________________
This the ____ day of ____, ____
									___________________
Judgment Debtor
Sworn to and Subscribed before
me this ____ day of ____, ____.
________________________________
Notary Public							My Commission Expires:".
SECTION 3.  This act is effective when it becomes law.