The Indiana Homestead Exemption

The Indiana bankruptcy homestead exemption allows you to protect $17,600 in home equity; $34,200 if you are married filing jointly.

If you file for bankruptcy in Indiana, the Indiana homestead exemptions allows you to protect $17,600 in home equity; $34,200 if you are married filing jointly. Read on to learn specifics about Indiana's homestead exemption.

For information about how the homestead exemption works in both Chapter 7 and Chapter 13 bankruptcy, see our articles in The Homestead Exemption in Bankruptcy. For more information on exemptions, see our Bankruptcy Exemptions area.

The Indiana Homestead Exemption Amount

Under Indiana law, a homeowner may exempt up to $17,600 of the value of a house or other property covered by the homestead exemption.

Doubling for Married Couples

In Indiana, the homestead exemption is doubled to $34,200 for married couples filing a joint bankruptcy.

The Scope of Indiana’s Homestead Exemption

In Indiana, the homestead exemption applies to personal property or real estate that constitutes your personal or family residence. Homesteads in Indiana can include homes, condominiums, mobile homes, and farms.

Can You Use the Federal Bankruptcy Exemptions in Indiana?

Some states allow bankruptcy filers to use federal bankruptcy exemptions instead of state exemptions. Indiana is not one of those states. If you live in Indiana, you must use Indiana state exemptions.

Homestead Declarations

In Indiana, the homestead declaration is automatic. Indiana residents do not have to file a homestead declaration in order to claim the homestead exemption in bankruptcy.

Finding Indiana’s Homestead Exemption Statute

Indiana’s homestead exemption is set forth at Ind. Code Ann. §§ 34-55-10-2. You can find Indiana statutes at the Indiana State website at (see Legislative Information under Laws and Justice on the site's homepage).

For more information about how to find state statutes, check out Nolo's Laws and Legal Research area.

Periodic Adjustments of Indiana Exemption Amounts

Indiana's Department of Financial Institutions adjusts state exemption amounts for inflation every six years.  The next adjustment will be made in 2016.

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