A homestead is subject to execution or forced sale in satisfaction of judgments obtained in the following cases: 1. On debts secured by mechanics', construction, or laborers' liens for work or labor done or performed or material furnished exclusively for the improvement of the same. 2. On debts secured by mortgage on the premises executed and acknowledged by both husband and wife, or an unmarried claimant. 3. On debts created for the purchase thereof and for all taxes accruing and levied thereon. 4. On all other debts when, upon an appraisal as provided by section 47 -18-06, it appears that the value of the homestead is more than one hundred fifty thousand dollars over and above liens or encumbrances on the homestead, and then only to the extent of any value in excess of the sum total of the liens and encumbrances plus said one hundred fifty thousand dollars.
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