(a) Notwithstanding any other law, the principal place of residence of a judgment debtor is not subject to sale under execution of a judgment lien based on a consumer debt unless the debt was secured by the debtor’s principal place of residence at the time it was incurred. As used in this subdivision, “consumer debt” means debt incurred by an individual primarily for personal, family, or household purposes.
(b) Subdivision (a) does not apply to any of the following types of unpaid debts:
(1) Wages or employment benefits.
(2) Taxes.
(3) Child support.
(4) Spousal support.
(5) Fines and fees owed to governmental units.
(6) Tort judgments.
(7) (A) Debts, other than student loan debt, owed to a financial institution at the time of execution on the judgment lien, if both of the following requirements are met:
(i) The amount of the original judgment on which the lien is based, when entered, was greater than seventy-five thousand dollars ($75,000), as adjusted pursuant to Section 703.150.
(ii) The amount owed on the outstanding judgment at the time of execution on the judgment lien is greater than seventy-five thousand dollars ($75,000), as adjusted pursuant to Section 703.150.
(B) As used in this paragraph, the following terms have the following meanings:
(i) “Financial institution” means a financial institution, as defined in Section 680.200.
(ii) “Student loan debt” means debt based on any loan made to finance postsecondary education expenses, including tuition, fees, books, supplies, room and board, transportation, and personal expenses. Student loan debt includes debt based on a loan made to refinance a student loan, but does not include debt secured by the debtor’s principal place of residence at the time it was incurred.
(Added by Stats. 2020, Ch. 218, Sec. 1. (AB 2463) Effective January 1, 2021.)