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Vermont

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    Vermont

    In general, a debtor may claim exemption of his homestead and certain personal property from attachment and execution of a judgment.

    The homestead of a judgment debtor may be exempt from attachment or execution up the a value of $75,000.00. A homestead is defined as a dwelling house, outbuildings and the land used in connection therewith, owned and used or kept by the judgment debtor as a homestead together with the rents, issues, profits and products thereof. (Prop. C. 27-101.) When the value of a homestead exceeds the $75,000 value limitation, and the severance thereof would greatly depreciate the value of the residue of the premises or be of great inconvenience to the parties interested in the residue or the homestead, the interested party may apply for relief to the Superior Court by filing a complaint setting forth the facts. (Prop. C. 27-108.)
    Personal property which may be exempt from execution and attachment may include the debtor's interest in:

    a motor vehicle or motor vehicles not to exceed $2,500 in aggregate value,
    professional or trade books or tools not to exceed $5,000 in aggregate value;
    a wedding ring, jewelry of the debtor or his dependent held primarily for the personal, family or household use not to exceed $500.00 in aggregate value,
    household furnishings, goods or appliances, books, wearing apparel, animals, crops or musical instruments that are held primarily for the personal, family or household use of the debtor or his dependent not to exceed $5,000 in aggregate value,
    growing crops not to exceed $5,000.00 in aggregate value;
    the debtor's aggregate interest in any property not to exceed $400 in value plus $7,000 of any unused amount of exemption provided under subdivisions (1), (2), (4), (5) and (6) of Section 12-2740 of the Court Procedure,
    one cooking stove,
    appliances needed for heating,
    one refrigerator,
    one freezer,
    one water heater,
    sewing machines,
    ten cords of firewood,
    five tons of coals or 500 gallons of oil,
    500 gallons of bottled gas,
    one cow, two goats, 10 sheep, 10 chickens, and feed sufficient to keep the cow, goats, sheep or chickens through one winter,
    three swarms of bees and their hives with their produce in honey,
    one yoke of oxen or steers or two horses kept and used for team work,
    two harnesses, two halters, two chains, one plow, and one ox yoke, bank account deposits not to exceed $700.00 in value, and
    self-directed retirement accounts of debtor not to exceed $10,000 in aggregate value.
    Other personal property which may be exempt may include:

    professionally prescribed health aids for the debtor or his dependent,
    unmatured life insurance contracts owned by the debtor,
    property traceable to or the debtor's right to receive, to the extent reasonably necessary for the support of the debtor and any dependents of the debtor,
    Social Security benefits,
    veteran's benefits,
    disability or illness benefits,
    alimony, support or separate maintenance,
    compensation awarded under a crime victim's reparation law,
    compensation for personal bodily injury, pain and suffering or actual pecuniary loss of the debtor or an individual on whom the debtor is dependent,
    compensation for the wrongful death of an individual on whom the debtor was dependent,
    payment under a life insurance contract that insured the life of an individual on whom the debtor was dependent on the date of that individual's death,
    compensation for loss of future earnings of the debtor or an individual on whom the debtor was or is dependent, and
    payments under a pension, annuity, profit-sharing, stock bonus, or similar plan or contract on account of death, disability, illness, or retirement from or termination of employment. (Court Proc. 12-2740.)
    www.BankruptcyForum.com

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