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Puerto Rico

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    Puerto Rico

    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 a property not exceeding the sum of $1,500.00 in value, consisting of a parcel of land and the buildings thereon, in any farm, plantation or parcel of land owned, or lawfully possessed and occupied by him as his family residence. (T.31, s1851.)
    In addition, a judgment debtor may claim exemption of personal property which may include:

    household furniture and furnishings up to a value of not exceeding $200;
    wearing apparel, hanging pictures, oil paintings and drawings drawn or painted by his family members, family portraits,
    farming utensils or implements of husbandry of a farmer not exceeding in value the sum of $200;
    certain number of domestic animals;
    water right not to exceed the amount of water used for the irrigation of lands actually cultivated by him;
    seed, grain or vegetables reserved on hand for the purpose of planting or sowing at any time within the ensuing 6 months but not exceeding in value the sum of $200;
    tools or implements of a mechanic or artisan necessary to carry on his trade not exceeding in value the sum of $300;
    a motor vehicle which is considered the working tool of the judgment debtor but not related to a debt incurred for the acquisition of the vehicle or incurred for the improvement or repair thereof, and up to a maximum value of $6,000 if the debt is related to civil liability for damages caused to a third party by the said motor vehicle;
    the cabin or dwelling of a miner not exceeding in value the sum of $200;
    life insurance proceeds on the life of the debtor;
    all arms, uniforms and accouterments required by law to be kept by the debtor;
    one gun;
    common iceboxes designed and commercially known for home use;
    home-use kitchens; wash machines for home use whose cash price does not exceed $200;
    radio receiving sets with a value not exceeding the sum of $100;
    Share in a homestead association, $500;
    television set for home use with a value not exceeding the sum of $250.
    www.BankruptcyForum.com

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