The New Hampshire Homestead Exemption

In bankruptcy, a homestead exemption protects equity in your home. Here, you'll find specific information about the homestead exemption in New Hampshire. For general information about how the homestead exemption works in both Chapter 7 and Chapter 13 bankruptcy, read The Homestead Exemption in Bankruptcy. For more bankruptcy information, read How to File Bankruptcy in New Hampshire.

How Much Is the Homestead Exemption in a New Hampshire Bankruptcy?

New Hampshire lets filers use either the federal exemption system or New Hampshire's state exemption system, so you'll have two homestead amounts to choose between. However, you can't mix exemptions from both lists, so you'll want to select the system that will protect your most important assets.

We've listed both exemption amounts below to help you make an informed choice. We've also included links to more complete federal and state exemption lists so you'll have an easier time deciding which set will work best for you.

If you're married, remember that spouses can double some exemption amounts, but not all. Find out about other filing considerations for spouses.

What Property Is Protected by New Hampshire's Homestead Exemption?

In New Hampshire, the homestead exemption applies to residential property, including a house, condominium, or manufactured housing in which you live and the land it's on if you own it.

Example 1. If you own a house worth $220,000 and have a mortgage balance of $120,000, you have $100,000 of equity in the property. If you file a Chapter 7 bankruptcy, you can use the homestead exemption to protect all equity.

Example 2. Assume your mortgage is only $20,000 and you can exempt $120,000 of your $200,000 equity. The Chapter 7 bankruptcy trustee would likely sell your house, give you $120,000 for your exemption, and use what remains after sales costs to pay unsecured creditors. If you wanted to keep the home, you could file for Chapter 13 and pay the $80,000 nonexempt equity portion to unsecured creditors through the Chapter 13 plan.

When Can You Claim the Homestead Exemption in a New Hampshire Bankruptcy?

You can file for bankruptcy in New Hampshire after living there for over 180 days. However, you must live in New Hampshire much longer before using New Hampshire exemptions, at least 730 days before filing, to be exact. Otherwise, you'd use the previous state's exemptions.

But suppose you lived in multiple states during the two years before filing for bankruptcy. In that case, you'd use the exemptions of the state you lived in for most of the 180 days before the two years immediately preceding your filing. (11 U.S.C. § 522(b)(3)(A).) Learn more about filing for bankruptcy after moving to a new state.

You'll also need to meet other timing and exemption requirements to prevent losing your home in bankruptcy. Find out more about keeping your home in Chapter 7 or Chapter 13 or consult a bankruptcy lawyer.

Finding the New Hampshire Bankruptcy Homestead Exemption Statute

You'll find New Hampshire's homestead exemption in the New Hampshire Revised Statutes Annotated at § 480:1 on the New Hampshire Government website. Still, the best way to learn the current homestead exemption amount and protect your assets is by consulting with a local bankruptcy lawyer.

Need More Bankruptcy Help?

Did you know Nolo has made the law easy for over fifty years? It's true, and we want to ensure you find what you need. Below you'll find more articles explaining how bankruptcy works. And don't forget that our bankruptcy homepage is the best place to start if you have other questions!

We wholeheartedly encourage research and learning, but online articles can't address all bankruptcy issues or the facts of your case. The best way to protect your assets in bankruptcy is by hiring a local bankruptcy lawyer.

Updated September 22, 2023