21:26
had me in the first half: https://www.reddit.com/r/LSAT/comments/1l49l6l/i_cheated_on_the_june_2025_lsat/
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Simple English definitions for legal terms
impairs an exemption
Read a random definition: constructive contract
A quick definition of impairs an exemption:
Impairment of exemption happens when a person owes money and has a lien on their property, but the amount they owe is more than the value of the property. This means that if they were to sell the property, they wouldn't have enough money to pay off the lien and keep the property. For example, if someone's house is worth $200,000, but they owe $150,000 on their mortgage and have a lien of $15,000, they only have $35,000 left in equity. If they have a homestead exemption of $35,000, the lien impairs their exemption because there wouldn't be enough money left to pay both the lien and the exemption. This is determined by federal and state laws, and it's important to know if you're filing for bankruptcy.
A more thorough explanation:
Impairment of exemption is a legal term that refers to a situation where a lien, along with other liens and the amount a debtor can claim as exempt, exceeds the value of a property. This means that if a debtor's property is worth a certain amount, and they are entitled to a certain amount of exemption, but the total amount of liens on the property is more than the value of the property minus the exemption, then the exemption is impaired.
For example, let's say a debtor owns a home worth $200,000. They are entitled to a homestead exemption of $35,000, and the home is subject to a mortgage of $150,000. This means that the total value of the property minus the mortgage is $50,000. If there is a lien on the property for more than $15,000, then the exemption is impaired. This is because if the mortgage was paid off, there wouldn't be enough equity left to pay both the exemption and the lien.
Another example could be a car that is worth $10,000, and the debtor is entitled to a $5,000 exemption. If there is a lien on the car for more than $5,000, then the exemption is impaired.
These examples illustrate how impairment of exemption works. If the total amount of liens on a property is more than the value of the property minus the exemption, then the exemption is impaired.