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.
A judgment debtor is generally entitled to a homestead exemption of not exceeding 40 acres of land and the dwelling house and appurtenances on the homestead in the value not exceeding $3,500. (27A.6021(h).
Some of the personal property which may be exempt from levy and sale under any execution may include:
all family pictures,
all arms and accouterments required by law to be kept by any person,
all wearing apparel of every person or family and
fuel for comfortable subsistence of each householder and his or her family for six months;
all household goods, furniture, utensils, books and appliances, not exceeding in value of $1,000;
a seat, pew or slip occupied by the judgment debtor or his family in any house or place of public worship, and
all cemeteries, tombs, and rights of burial while in use as repositories of the dead of the judgment debtor or his family;
tools of trade not exceeding in value of $1,000;
Shares of association unless homestead, $1,000;
any benefits paid for the disability of the judgment debtor;
an individual retirement account or individual retirement annuity as defined in section 408 of the Internal Revenue Code; and
the right of the judgment debtor's interest in a pension, profit-sharing, stock bonus, or other plan that is qualified under section 401 of the Internal Revenue Code, or an annuity contract under section 403 of the Internal Revenue Code. (MSA 27a.6021.)
A judgment debtor is generally entitled to a homestead exemption of not exceeding 40 acres of land and the dwelling house and appurtenances on the homestead in the value not exceeding $3,500. (27A.6021(h).
Some of the personal property which may be exempt from levy and sale under any execution may include:
all family pictures,
all arms and accouterments required by law to be kept by any person,
all wearing apparel of every person or family and
fuel for comfortable subsistence of each householder and his or her family for six months;
all household goods, furniture, utensils, books and appliances, not exceeding in value of $1,000;
a seat, pew or slip occupied by the judgment debtor or his family in any house or place of public worship, and
all cemeteries, tombs, and rights of burial while in use as repositories of the dead of the judgment debtor or his family;
tools of trade not exceeding in value of $1,000;
Shares of association unless homestead, $1,000;
any benefits paid for the disability of the judgment debtor;
an individual retirement account or individual retirement annuity as defined in section 408 of the Internal Revenue Code; and
the right of the judgment debtor's interest in a pension, profit-sharing, stock bonus, or other plan that is qualified under section 401 of the Internal Revenue Code, or an annuity contract under section 403 of the Internal Revenue Code. (MSA 27a.6021.)