HOMESTEAD EXEMPTIONS STATE BY STATE (Updated 8/06)
The information on this web site should not be used as a substitute for consultation with professional insolvency, tax, legal or other competent advisers. While we have made every attempt to ensure that the information contained in this web site has been obtained from reliable sources, we are not responsible for any errors or omissions, or for the results obtained from the use of this information.BACPA limit on homestead exemptions: The exemption for a homestead is limited to $125,000 if the property was acquired within the previous 1215 day (3.3 years). The cap is not applicable to any interest transferred from a debtor's previous principal residence (which was acquired prior to the beginning of such 1215-day period).
FEDERAL EXEMPTION: $18,450
ALABAMA: $5,000.00 individual, $10,000 joint. (C.O.A. 6-10-2);
ALASKA: $67,500. (Section 09.38.010(a).)
ARIZONA: $100,000.00 (ARS 33-1101, et seq.)
ARKANSAS (STATE OR FEDERAL): Unlimited (subject to BACPA limit,
above) if up to one acre if located in any city, town or village. If outside any
city, town or village, it may not exceed one hundred and sixty acres of land. (Ark.
Const. Art. IX, Sec. 3 & 4; 16-66-210.)
CALIFORNIA: A. Exemption amount is $50,000 for an individual. B.
Exemption amount is $75,000 for a head of household [debtor plus: (a) spouse; (b)
minor child or grandchild; (c) minor brother or sister; (d) parents or parents in
law; or (e) incapacitated relative]. C. Exemption amount is $100,000 for those over
65, those over 55 with gross annual income of less than $15,000, or the disabled.
COLORADO: $45,000.00 (C.R.S. 38-41-201.)
CONNECTICUT (STATE OR FEDERAL): $75,000.00 individual, $150,000
joint. (Section 352b(t).)
DELAWARE: $50,000 (DCA10 sec. 4914)
D.C. (STATE OR FEDERAL): No State homestead, Federal only.
FLORIDA: Unlimited (subject to BACPA limit, above) (Section 222.01.)
GEORGIA: $10,000.00 and $20,000. (Section 44-13-1.)
HAWAII: (STATE OR FEDERAL): $20,000; $30,000 for married debtor/head
of household/debtor over 65.
IDAHO: $50,000.00. (I.C. 55-5003, 55-1008
ILLINOIS: $15,000 individual. If two or more individuals $30,000
based upon the percentage of ownership. (735 ILCS 5/12-901) (amended effective 1/1/06)
INDIANA: $15,000.00, $30,000 joint.
IOWA: Unlimited (subject to BACPA limit, above)
KANSAS: Unlimited (subject to BACPA limit, above) 160 acres of
farming land, or of one acre within the limits of an incorporated town or city,
or a manufactured home or mobile home.
KENTUCKY: $5,000 individual, $10,000 joint.
LOUISIANA: $25,000 individual,$50,000 joint.
MAINE: $35,000.00 individual, $70,000 joint. If the debtor or a
dependent of the debtor is 60 years of age or older, $70,000.00 individ., /$140,000
(joint)
MARYLAND: $5,000 individual, $10,000 joint. $6,000/ $12,000 additional
of money or property of any kind.
MASSACHUSETTS (STATE OR FEDERAL): $500,000.00 (subject to BACPA
limit, above). (c. 188, s. 1.)
MICHIGAN (STATE OR FEDERAL): $30,000.00 or, if the debtor or a
dependent of the debtor is 65 years of age or older or disabled, $45,000.00. 600.5451
MINNESOTA (STATE OR FEDERAL): $200,000 or, if the homestead is
used primarily for agricultural purposes, $500,000. (Sec. 510.05.) (subject to BACPA
limit, above)
MISSISSIPPI: $75,000 individual, $150.000 joint.
MISSOURI: $15,000
MONTANA: $100,000 individual..
NEBRASKA: $12,500; Homestead sale proceeds $12,500 individual,
$25,000 joint.
NEVADA: $200,000
NEW HAMPSHIRE: $100,000 individual, $200,000 joint.
NEW JERSEY (STATE OR FEDERAL): No State homestead, federal only.
NEW MEXICO (STATE OR FEDERAL): $30,000 individual, $60,000 joint.
(42-10-9.)
NEW YORK: $50,000 individual, $100,000 joint. (effective 2006)
NORTH CAROLINA(updated 1/1/06): $18,500 individual, $37,000 joint.
NORTH DAKOTA: $80,000 individual, $160,000 joint.
OHIO: $5,000 individual, $10,000joint.
OKLAHOMA: Unlimited (subject to BACPA limit, above) IF less than1
acre in town and used 75% for residence (not business) or 160 acres outside of city
or town. (31-2C.)
OREGON: $30,000 for an individual and a combined exemption of $39,600
if two or more members. (ORS 18.395) Mobile home with land $23,000/$30,000 without
land $20,000 and $27,000 (18.428)
PENNSYLVANIA (STATE OR FEDERAL): No state, Federal only.
RHODE ISLAND (STATE OR FEDERAL): $150,000.
SOUTH CAROLINA: $5,000 individual, $10,000 joint.
SOUTH DAKOTA: Unlimited (subject to BACPA limit, above). If sold,
proceeds of $30,000 or $170,000 if person is 70 or older. 43-45-3.
TENNESSEE: $5,000 individual, $7,500 joint. If over 65, $12,500
individual, $20,000 if joint and 1 over 65, $25,000 if joint and both over 65.
TEXAS (STATE OR FEDERAL): Unlimited (subject to BACPA limit, above).
UTAH: $20,000 individual, $40,000 joint.
VERMONT (STATE OR FEDERAL): $75,000.
VIRGINIA: $5,000, $10,000 joint + $500 for each dependent.
WASHINGTON (STATE OR FEDERAL): $40,000
WEST VIRGINIA: $25,000 individual, $50,000 joint.
WISCONSIN (STATE OR FEDERAL): $40,000.00 per household. (Sec. 815.20.)
WYOMING: $10,000 individual, $20,000 joint. Mobile home: $6,000
and $12,000 joint