The Rhode Island Homestead Exemption

In bankruptcy, a homestead exemption protects equity in your home. Here, you'll find specific information about the homestead exemption in Rhode Island. 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 Filing for Bankruptcy in Rhode Island.

How Much Is the Homestead Exemption in a Rhode Island Bankruptcy?

Rhode Island lets filers use the federal exemption system or Rhode Island's state exemption system. However, you can't mix exemptions from both lists, so you'll want to select the system that will protect your most important assets.

To help you make an informed choice, we've listed the federal and Rhode Island homestead exemption amounts below. 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.

When Can You Use a Homestead Exemption in a Rhode Island Bankruptcy?

You can file for bankruptcy in Rhode Island after living there for over 180 days. However, you must live in Rhode Island much longer before using Rhode Island exemptions (if that's the set you choose to use), 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.

Consult a Rhode Island Bankruptcy Lawyer

We've covered some of the most basic rules you'll encounter when protecting your home in bankruptcy. However, you'll also need to meet other timing and exemption requirements to prevent losing your home. Find out more about keeping your home in Chapter 7 or Chapter 13 or consult a 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 October 4, 2023