Kansas Bankruptcy Laws

Like most of the other states, the Kansas bankruptcy laws allow you to use federal supplemental exemptions in conjunction with the Kansas specific exemptions. However, you cannot completely substitute the federal bankruptcy exemptions with the state specific exemptions. The Kansas bankruptcy courts are located in three places – Kansas City, Topeka, and Wichita.

Properties Exemptible Under The Kansas Bankruptcy Laws

Following are the properties that are allowed to be exempted under Kansas bankruptcy laws.

•Under homestead exemptions, you are allowed to exempt any real or mobile property – irrespective of the value of the property. There is no restriction for properties that are exempted under the Kansas bankruptcy laws. However, there are certain restrictions in terms of area of the properties, like, the properties exemptible under homestead exemptions cannot be more than one acre, if they are located in town or city and 160 acres if they are located out of the town, such as farms etc.
•No personal properties are allowed to be exempted under the wild card section.
•Miscellaneous properties that are exemptible also include Liquor licenses, along with the properties used in a partnership business.
•Under the Kansas bankruptcy laws, pension funds are allowed to be exempted for the following individuals.
◦Police officers
◦Elected and appointed officials, but only in those cities where population is not more than 200,000 and not less than 120,000
◦Public employees
◦State highway patrol officers
◦State school employees
•Under the Kansas bankruptcy laws, clothing can be exempted, but only up to the amount that could last up to one year.
•Jewelry also comes under personal property exemptions, but the valu8e should not exceed one thousand dollars.
•You can also keep your car or other vehicle. The maximum amount exemptible in this regard is twenty thousand dollars.
•Tools of trades include books, furniture, family pictures etc, but the maximum amount exemptible in this regard should not exceed 7500 dollars in total.