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 Maine statutes permit exemption of a debtor's real and personal property which are used by the debtor and his family as a residence in the aggregate value of $70,000.00 or $35,000.00 for a single person. If the debtor or a dependent of the debtor is 60 years of age or older, or disabled the aggregate exempt value may be $140,000.00 or $70,000.00 for a single person.
Some of the items of personal property which may be exempt include:
clothing, household furniture and furnishings, musical instruments, etc., that are held primarily for the personal family or household use of the debtor or his dependent, with a value not to exceed $200.00 in each item,
motor vehicle, $5,000,
jewelry with an aggregate value not to exceed $750.00,
tools of the trade in an aggregate value not to exceed $5,000.00.
health aids,
life insurance dividends or other interest, $4,000,
personal injury payments, $12,500,
disability benefits and
pension (14 M.R.S.A. 4422.)
Wild card, $400.
Some of the items of personal property which may be exempt include:
clothing, household furniture and furnishings, musical instruments, etc., that are held primarily for the personal family or household use of the debtor or his dependent, with a value not to exceed $200.00 in each item,
motor vehicle, $5,000,
jewelry with an aggregate value not to exceed $750.00,
tools of the trade in an aggregate value not to exceed $5,000.00.
health aids,
life insurance dividends or other interest, $4,000,
personal injury payments, $12,500,
disability benefits and
pension (14 M.R.S.A. 4422.)
Wild card, $400.