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The Homestead Exemption in Bankruptcy

Whether you can protect your home is a big question for many people considering bankruptcy. Many states allow bankruptcy filers to protect some or all of the equity in their home in bankruptcy using the homestead exemption. 

Homestead exemptions vary widely by state. For example:

  • A few states allow you to exempt all of your home equity, no matter how large. Others protect only a small amount of equity.  
  • Some states allow married couples filing joint bankruptcy to double the homestead exemption amount. Others do not.
  • Some states require you to file a homestead declaration to take advantage of the homestead exemption in bankruptcy.
  • Most states require you to use the state homestead exemption amount. A few allow you to choose between your state and the federal homestead exemption.

For some states, we have articles with information about the state's homestead exemption amount, what types of property it applies to, whether married filers can double the exemption, and where you can find the state's homestead exemption laws (so you can go right to the source if necessary).

Homestead Exemptions by State

For some states, we have articles with information about the state's homestead exemption amount, what types of property it applies to, whether married filers can double the exemption, and where you can find the state's homestead exemption laws (so you can go right to the source if necessary).

Learn how much home equity you can protect with the homestead exemption and the requirements you need to meet to keep a home in bankruptcy.

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