Las Vegas litigator Rob Hernquist of Howard and Howard and Kurt Mattson of Union Legal Research in Chandler, Arizona have co-authored an amusing article in the December issue of the Nevada Lawyer.
The article entitled, Stand Down. Repeat, Stand Down: Your Fire Engine, Saturday Night Special and Prosthesis are Exempt from Judgment, is a look at the somewhat odd types of property that are exempt from execution of a judgment.
Nevada Statute § 21.090 includes some logical exceptions, such as private libraries, works of art, musical instruments, jewelry, necessary household goods, and farm equipment—all up to certain dollar limits. These exemptions appear to make some degree of sense; the list allows the debtor to continue to live and work (and also to enjoy her art collection). But there are several other exemptions that left the authors questioning the drafters’ intent.
Like other states, Nevada’s exemption laws were enacted just after the Civil War and haven’t been update. As a result, the list seems a bit comical.
The authors’ write that “[w]ithout some significant legislative overhaul, creditors and attorneys should steer clear of property that is related to a debtor’s basic means of providing for his or her family. And, of course, hands off the fire truck.”
The article can be found on the Nevada State Bar’s website: https://www.nvbar.org/wp-content/uploads/NevadaLawyer_Dec2018_Exempt-From-Judgment.pdf.
Hernquist, a partner at the national law firm, practices in the areas of Bankruptcy & Creditors’ Rights, Business & Corporate Law, Commercial Litigation, Intellectual Property within the industries of Construction, Energy & Utilities, Financial Services, Gaming, Healthcare, and Hospitality.
Mattson is the President of Union Legal Research (unionlegalresearch.com) and the former Director of Library Services and Continuing Education at Lionel Sawyer & Collins in Las Vegas. He is the editor of Lexis’ BSA/AML Update, co-author of A.S. Pratt’s Mortgage Procedure Guide to Federal and State Compliance, and author of Fair Debt Collection Practices: Federal and State Law and Regulation. He’s also a contributing author of Brady on Bank Checks, as well as other business and legal publications.
Media ContactCompany Name: Union Legal ResearchContact Person: Kurt R. MattsonEmail: Send EmailCountry: United StatesWebsite: unionlegalresearch.com
