Is my home exempt from bankruptcy? 10 Answers as of August 23, 2017

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Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Well a certain portion of the equity is, depending on which state you live in. You will have to check with local counsel.
Answer Applies to: California
Replied: 8/23/2017
Stephens Gourley & Bywater | David A. Stephens
Yes, unless its equity exceeds $550,000.00.
Answer Applies to: Nevada
Replied: 8/22/2017
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
$75K in equity is exempt, unless you are 60 or older, or disabled, or have a disabled dependent, in which case it is raised to $105K.
Answer Applies to: Colorado
Replied: 8/21/2017
Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
All states and federal bankruptcy law exempt your homestead-usually up to a certain amount of equity. In Wisconsin, for example, a person can exempt about $13,000 of equity in a homestead-double that for a married couple-using the federal exemption statute. Under the Wisconsin list of exemptions (which you can choose to apply in a BR instead of the federal list), you can exempt $75,000 for one person, again doubling that if a married couple files together.
Answer Applies to: Wisconsin
Replied: 8/21/2017
Law Office of Kimberly Fives | Kimberly Fives
Maybe. Your equity in the house can be exempted up to $75,000 if you are single and it is your primary residence. $100,000 if you have family. If you have more Equity then the above amounts the trustee can sell your home and use the excess equity to pay off your creditors. The amount you are entitled to exempt would still go back to you.
Answer Applies to: California
Replied: 8/21/2017
    Benson Law Firm
    Benson Law Firm | David Benson
    The homestead exemption in bankruptcy is pretty generous in Ohio: $136,925. This would refer to the amount of equity left after all liens have been paid.
    Answer Applies to: Ohio
    Replied: 8/19/2017
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    Whether you can claim your home as exempt in any bankruptcy depends on how much equity you have in the home. In most states, to claim an exemption in real property, you must live in the property. In some states, you must record a declaration claiming this legal right.
    Answer Applies to: Nevada
    Replied: 8/19/2017
    Law Office of Stuart M. Nachbar, P.C.
    Law Office of Stuart M. Nachbar, P.C. | Stuart M. Nachbar
    Only the equity in the house is exempt up to a certain amount in NJ under the federal exemption scheme. Check with an attorney in your jurisdiction.
    Answer Applies to: New Jersey
    Replied: 8/19/2017
    Mauritz Van Niekerk, Attorneys at Law
    Mauritz Van Niekerk, Attorneys at Law | Christiaan van Niekerk
    Yes, if it is under the limit nobody can take that from you but you need to check with you and lawyer is exceeded or not.
    Answer Applies to: New York
    Replied: 8/19/2017
    Ronald K. Nims LLC | Ronald K. Nims
    Homes are exempt up to $136,000 in Ohio.
    Answer Applies to: Ohio
    Replied: 8/19/2017
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