§ 1C-1602. Alternative exemptions. - North Carolina Statutes

§1C‑1602.  Alternative exemptions.

The debtor may elect to takethe personal property and homestead exemptions provided in Article X of theConstitution of North Carolina instead of the exemptions provided by G.S. 1C‑1601.If the debtor elects to take his constitutional exemptions, the exemptionsprovided in G.S. 1C‑1601 shall not apply and in that event the exemptionsprovided in this Article shall not be construed so as to affect the personalproperty and homestead exemptions granted by Article X of the Constitution ofNorth Carolina. If the debtor elects  to take his constitutional exemptions,the clerk or district court judge must designate the property to be exemptunder the procedure set out in G.S. 1C‑1603. The debtor is entitled tohave one thousand dollars ($1,000) in value in real property owned and occupiedby him and five hundred dollars ($500.00) in value in his personal propertyexempted from sale under execution. If the value of the property in which thedebtor claims his constitutional exemption is in excess of his exemptions, theclerk, in an execution, may order the sale of the  property with the proceedsof the sale being distributed first to the  debtor to satisfy his exemption andthe excess to be distributed as ordered. (1981, c. 490, s. 1; 1981(Reg. Sess., 1982), c. 1224, s. 8.)