Bill > SB1111

This bill increases the homestead exemption in Missouri from $15,000 to $50,000, which means that homeowners can now protect up to $50,000 of their property's value from attachment and execution (legal processes where property can be seized to satisfy a debt). The exemption applies to a person's primary dwelling and the land associated with it. If multiple owners claim the exemption for the same property, the total exemption cannot exceed $50,000. The bill also maintains existing provisions that require both spouses to jointly agree to sell, mortgage, or transfer the homestead property, preventing either spouse from unilaterally disposing of the property. This change could provide greater financial protection for homeowners by shielding a larger portion of their home's value from creditors.

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https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=642