26-2-304 - Insurance proceeds from homestead. - Tennessee Statutes

26-2-304. Insurance proceeds from homestead.

All moneys arising from insurance on a homestead which is destroyed by fire, or by other disaster, shall be exempt in an amount not to exceed five thousand dollars ($5,000). This insurance exemption shall not operate so as to exclude the interest of any mortgagee at the time of the insurance loss so long as the mortgagee's interest is evidenced by a written contract.

[Code 1932, § 7734; Acts 1979, ch. 61, § 4; T.C.A., § 26-305.]