South Carolina

Homestead • $5,000 in real or personal property, or co-op association, joint owners may double.
Cash and liquid assets in lieu of homestead, $1,000;
Insurance • Fraternal benefit society benefits
Life insurance for the benefit of a married debtor's, if purchased more than 2 years prior to filing.
$4,000 in accrued of unmatured life insurance on debtor or debtor's provider.
Any unmatured life insurance policy other than credit life.
Proceeds of life insurance on debtor's provider, necessary for support.
Wrongful death and bodily injury to debtor's provider, are exempt
Miscellaneous • Alimony, child support
Business Partnership Property
Pensions and Retirement Benefits • ERISA
Social security
Various employee retirement systems' benefits are exempt.
Personal Property • $1,200 in one motor vehicle
Household furnishings and goods clothing, appliances, books, animals, crops, musical instruments to $2,500.
$1,000 in cash in lieu of homestead or burial lot.
$500 in jewelry
Health aids
One burial plot, as an alternative to the homestead exemption.
public Benefits Exempt • Public assistance
Crime victims' compensation
Social security
Unemployment compensation
Tools of trade • $750 is exempt.
Wages • None
Wild Card • None

Good Morning,
In laymans language,what does the South Carolina $5000.00 homestead exemption mean?Our home is jointly owned,and is worth approx.$160k.If we filed BK,do we lose the house or what?I am totally confused.Please clear this up for me.
brokeone

South carolina homestead exemption is now $50,000.00 double if joint filing.