Properties Exemptions Under The Washington Bankruptcy Laws

As per the Washington bankruptcy laws, following are the properties and their specific details that can be exempted by the debtor declared as bankrupt, by any of the Washington bankruptcy district courts.

•You can exempt any real property or mobile home under the Homestead Exemptions. The maximum exemptible amount in this regard is forty thousand dollars.
•You should also keep in mind that if you are attempting the sale of any property that is unimproved or any home that is unoccupied, it would be essential for you to file homestead declaration for the same, before filing court petition for bankruptcy.
•Insurance Exemptions
•The Washington bankruptcy laws have specifically declared books as exemptible under the personal properties exemptions. You can exempt books up to 1500 dollars.
•The maximum combined exemptible amount for clothing, jewelry, and other ornaments is one thousand dollars.
•Pension funds are also allowed for exemption, under the Washington bankruptcy laws, but only the following individuals are eligible for such exemptions:
◦Volunteer firefighters
◦State patrol officers
◦Public employees
•The individuals with IRAs and ERISA-qualified benefits are also eligible to claim for pension exemptions.
•Exemptible public benefits include child support funds, old-age assistance, unemployment compensation, and crime victims’ compensation.
•As per the Washington bankruptcy laws, the Wild Card exemptions include any personal property for up to two thousand dollars.

Properties Exemptions Under The North Dakota Bankruptcy Laws

As per the North Dakota bankruptcy laws, following are the properties and their specific details that can be exempted by the debtor declared as bankrupt by any of the North Dakota bankruptcy district courts.

•The properties included under Homestead Exemptions include real property, house trailer or mobile homes. The maximum amount exemptible in this regard is eighty thousand dollars.
•Insurance Exemptions
•Personal properties exemptions
•Pension funds are also allowed to be exempted under the North Dakota bankruptcy laws. The pension exemptions include Disabled veterans’ benefits, but except military retirement pay.
•Other pension exemptions include ERISA-qualified benefits, IRAs and Keoghs up to 100,000 dollars per plan.
•Exemptible personal properties are as follows.
◦Bible, books, clothing, and family portrait and pictures are exempted up to one hundred dollars in total value.
◦You can also claim to exempt cash up to 7500 dollars, but as per the North Dakota bankruptcy laws that is allowed only in lieu of homestead.
◦The maximum exemptible amount for motor vehicle is twelve hundred dollars.
◦The North Dakota bankruptcy laws have also included Personal injury recoveries as exemptible property. The maximum amount you can exempt in this regard is 7500 dollars.
◦Likewise, you can also exempt any amount related to Wrongful death recoveries up to 7500 dollars.
◦If you are not claiming crops or grain under personal properties exemptions, you may claim to exempt 5000 dollars of any personal property if you are the head of the family, or 2500 dollars if you are Non-head of household.
•Exemptible public benefits include Workers’ compensation, Vietnam veterans’ adjustment compensation, Unemployment compensation, Social security, Crime victims’ compensation, and AFDC.
•Wild Card exemptions have been covered under the personal property exemptions as per the North Dakota bankruptcy laws.

Properties Exemptions Under The Nebraska Bankruptcy Laws

As per the Nebraska bankruptcy laws, following are the properties and their specific details that can be exempted by the debtor declared as bankrupt by any of the Nebraska bankruptcy district courts.

•Homestead Exemptions are allowed up to 12500 dollars in value. Note that the exempted homestead properties cannot be more than two lots in a town. However, if the homestead properties are located elsewhere, you are allowed to exempt up to 160 acres of the same.
•Insurance Exemptions include fraternal benefit society benefits, but only up to ten thousand dollars in value.
•The value exempted for Life insurance or annuity contract proceeds is also ten thousand dollars as per the Nebraska bankruptcy laws.
•Pension funds are also exempted under the Nebraska bankruptcy laws, but only following individuals are eligible for such exemptions.
◦State employees
◦School employees
◦County employees
•Military disability benefits are also considered under pension exemptions, but only up to two thousand dollars.
•Under the personal properties exemptions, the Nebraska bankruptcy laws have specifically mentioned Furniture & kitchen utensils, which are exemptible up to the amount of fifteen hundred dollars.
•Exemptible public benefits include Unemployment compensation, Workers’ compensation, disability compensation etc.
•Tools of trade exemptions include Equipment or tools up to fifteen hundred dollars in value. If you are a married couple, you will be allowed to exempt up to three thousand dollars in this regard.
•Wild Card exemptions include any personal property up to 2500 dollars in value in lieu of homestead. However, the personal properties here do not include wages of any kind.

Property Exemptions Under Maryland Bankruptcy Laws

Following are the various types of properties that are allowed to be exempted under the Maryland bankruptcy laws.

•Surprisingly, the Maryland bankruptcy laws do not allow any homestead exemptions. No properties can be exempted under this section. However, the relief is that you can use any property held as tenancy to exempt against debts owed by one spouse – but as obvious, this relief is only for the married couple.
•Exemptible insurance policies, funds, and benefits include fraternal benefit society benefits, medical benefits deducted from wages, and disability or health benefits.
•If you are using any property in a partnership business, you can get that exempted under the miscellaneous exemptions.
•Pension funds are also exemptible under the Maryland bankruptcy laws, but only for the following people:
◦State employees
◦Deceased Baltimore police officers
◦State police
•ERISA-qualified benefits are included in the pension exemptions, but you are not allowed to exempt IRAs under the Maryland bankruptcy laws.
•Personal properties like books, furniture, pets, and clothing can be exempted for up to the amount of one thousand dollars in total.
•Lost future earnings recoveries also come under personal property exemptions as per the Maryland bankruptcy laws.
•Under tools of trade exemptions, you are allowed to exempt clothing, books, tools, instruments, and appliances, but only up to the value of five thousand dollars in total. However, the Maryland bankruptcy laws specifically add that car or automobiles cannot be included under tools of trade exemptions.