(1) For purposes of this section:

1. (a) "Household" means a group of persons related by blood or marriage living together in the same dwelling as an economic unit, sharing furnishings, facilities, accommodations, and expenses.
2. (b) "Mobile home" is as defined in Section 57-16-3.
3. (c) "Primary personal residence" means a dwelling or mobile home, and the land surrounding it, not exceeding one acre, as is reasonably necessary for the use of the dwelling or mobile home, in which the individual and the individual's household reside.

4. (d) "Property" means:

   1. (i) a primary personal residence;
   2. (ii) real property; or
   3. (iii) an equitable interest in real property awarded to a person in a divorce decree by a court.

(2)

1. (a) An individual is entitled to a homestead exemption consisting of property in this state in an amount not exceeding:

   1. (i) $5,000 in value if the property consists in whole or in part of property which is not the primary personal residence of the individual; or
   2. (ii) $30,000 in value if the property claimed is the primary personal residence of the individual.

2. (b) If the property claimed as exempt is jointly owned, each joint owner is entitled to a homestead exemption; however

   1. (i) for property exempt under Subsection (2)(a)(i), the maximum exemption may not exceed $10,000 per household; or
   2. (ii) for property exempt under Subsection (2)(a)(ii), the maximum exemption may not exceed $60,000 per household.

3. (c) A person may claim a homestead exemption in either or both of the following:

   1. (i) one or more parcels of real property together with appurtenances and improvements; or
   2. (ii) a mobile home in which the claimant resides.
4. (d) A person may not claim a homestead exemption for property that the person acquired as a result of criminal activity.

(3) A homestead is exempt from judicial lien and from levy, execution, or forced sale except for:

1. (a) statutory liens for property taxes and assessments on the property;
2. (b) security interests in the property and judicial liens for debts created for the purchase price of the property;
3. (c) judicial liens obtained on debts created by failure to provide support or maintenance for dependent children; and
4. (d) consensual liens obtained on debts created by mutual contract.

(4)

1. (a) Except as provided in Subsection (4)(b), water rights and interests, either in the form of corporate stock or otherwise, owned by the homestead claimant are exempt from execution to the extent that those rights and interests are necessarily employed in supplying water to the homestead for domestic and irrigating purposes.
2. (b) Those water rights and interests are not exempt from calls or assessments and sale by the corporations issuing the stock.

(5)

1. (a) When a homestead is conveyed by the owner of the property, the conveyance may not subject the property to any lien to which it would not be subject in the hands of the owner.
2. (b) The proceeds of any sale, to the amount of the exemption existing at the time of sale, is exempt from levy, execution, or other process for one year after the receipt of the proceeds by the person entitled to the exemption.