ALABAMA
Exemptions or Assets that can be kept in a Bankruptcy
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. The Alabama statutes permit exemption of a debtor's homestead up to the amount of $5,000.00 (C.O.A. 6-10-2); and personal property up to the value of $3,000.00. In addition, all family portraits or pictures and all books used in the family are exempt from levy or sale. (C.O.A. 6-10-6.) In a bankruptcy proceeding, a debtor, who is a resident of Alabama, is not permitted to elect the exemptions provided under the federal Bankruptcy Code even though the federal exemptions may be more beneficial in his situation. (C.O.A. 6-10-11.)
Exemptions or Assets that can be kept in a Bankruptcy
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. The Alabama statutes permit exemption of a debtor's homestead up to the amount of $5,000.00 (C.O.A. 6-10-2); and personal property up to the value of $3,000.00. In addition, all family portraits or pictures and all books used in the family are exempt from levy or sale. (C.O.A. 6-10-6.) In a bankruptcy proceeding, a debtor, who is a resident of Alabama, is not permitted to elect the exemptions provided under the federal Bankruptcy Code even though the federal exemptions may be more beneficial in his situation. (C.O.A. 6-10-11.)
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