Most people want to know whether they can keep valuable property before filing for bankruptcy—especially a home. If you qualify to use the New Hampshire homestead exemption, you can protect some or all of the equity in your house. In this article, we explain:
For more bankruptcy information, read How to File Bankruptcy in New Hampshire.
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. 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.
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Federal Homestead Exemption |
New Hampshire Homestead Exemption |
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Homestead exemption amount |
$27,900 |
$120,000 |
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Can spouses who file a joint bankruptcy double the exemption? |
$55,800 is available to spouses who co-own property. |
$240,000 is available to spouses who co-own property. |
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Homestead exemption law |
11 U.S.C. § 522(d)(1) |
N.H. Rev. Stat. Ann. § 480:1 |
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Other information |
Amounts will adjust on April 1, 2025. |
Manufactured housing included N.H. Rev. Stat. Ann. § 674:31 |
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Compare other federal and state exemptions. |
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.
You can file for bankruptcy in New Hampshire after living there for more than 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-year period that immediately preceded your filing. (11 U.S.C. § 522(b)(3)(A).) Learn more about filing for bankruptcy after moving to a new state.
Also, to claim the total value of the homestead exemption, you must have purchased and owned the property for at least 1,215 days before the bankruptcy filing. If you can't meet this requirement, your homestead exemption is limited by federal law to $189,050 (this figure will adjust on April 1, 2025).
Learn more about this requirement, the current amount of the federal cap, and other important exceptions to homestead exemptions.
In New Hampshire, the homestead exemption is automatic – you don't have to file a homestead declaration with the recorder's office to claim the homestead exemption in bankruptcy. Instead, when filing for bankruptcy, you'll list your homestead exemption on Schedule C: The Property You Claim as Exempt when completing your bankruptcy forms.
You can find out about other requirements you'll need to meet in Your Home in Chapter 7 or Your Home in Chapter 13.
You'll find New Hampshire's homestead exemption in the New Hampshire Revised Statutes Annotated at § 480:1 on the New Hampshire Government website. Learn about finding state statutes in Laws and Legal Research.
Did you know Nolo has been making the law easy for over fifty years? It's true—and we want to make sure 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!
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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 April 7, 2022