laz
10-13-2004, 11:45 AM
In general, a debtor may claim exemption of his homestead and certain personal property from attachment and execution of a judgment, or in a bankruptcy proceeding.
an individual debtor domiciled in the State of Maryland may exempt the debtor's aggregate interest, not to exceed $2,500 in value, in real property or personal property. (Courts: 11-504.)
Personal property which may be exempt from execution, seizure or attachment may include:
wearing apparel, books, tools, instruments, or appliances, in an amount not to exceed $2,500 in value necessary for the practice of any trade or profession except those kept for sale, lease, or barter;
money payable in the event of sickness, accident, injury, or death of any person, including compensation for loss of future earnings;
Professionally prescribed health aids for the debtor or any dependent of the debtor;
the debtor's interest, not to exceed $500 in value, in household furnishings, household goods, wearing apparel, appliances, books, animals kept as pets, and other items that are held primarily for the personal, family, or household use of the debtor or any dependent of the debtor;
cash or property of any kind equivalent in value to $3,000; and
any interest in a retirement plan qualified under § 401 (a), § 403 (a), § 403 (b), § 408, § 408A, § 414 (d), or § 414 (e) of the United States Internal Revenue Code of 1986, as amended, or § 409 (as in effect prior to January 1984) of the United States Internal Revenue Code of 1954, as amended.
an individual debtor domiciled in the State of Maryland may exempt the debtor's aggregate interest, not to exceed $2,500 in value, in real property or personal property. (Courts: 11-504.)
Personal property which may be exempt from execution, seizure or attachment may include:
wearing apparel, books, tools, instruments, or appliances, in an amount not to exceed $2,500 in value necessary for the practice of any trade or profession except those kept for sale, lease, or barter;
money payable in the event of sickness, accident, injury, or death of any person, including compensation for loss of future earnings;
Professionally prescribed health aids for the debtor or any dependent of the debtor;
the debtor's interest, not to exceed $500 in value, in household furnishings, household goods, wearing apparel, appliances, books, animals kept as pets, and other items that are held primarily for the personal, family, or household use of the debtor or any dependent of the debtor;
cash or property of any kind equivalent in value to $3,000; and
any interest in a retirement plan qualified under § 401 (a), § 403 (a), § 403 (b), § 408, § 408A, § 414 (d), or § 414 (e) of the United States Internal Revenue Code of 1986, as amended, or § 409 (as in effect prior to January 1984) of the United States Internal Revenue Code of 1954, as amended.