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    Washington

    For the purpose of judgment enforcement or in a bankruptcy proceeding, a debtor is generally entitled to certain statutory exemptions under state laws or federal laws, or both. Under the laws of Washington, a homestead consists of real or personal property that the owner uses as a residence (RCW 6.13.010).

    The homestead exemption amount generally may not exceed the lesser of (1) the total net value of the lands, mobile home, improvements, and other personal property, as described in RCW 6.13.010, or (2) the sum of $40,000.00 in the case of lands, mobile home, and improvements, or the sum of fifteen thousand dollars ($15,000.00) in the case of other personal property described in RCW 6.13.010.
    Personal property which may be exempt from execution, attachment, and garnishment may include:

    wearing apparel of every individual and family, but not to exceed $1,000.00 in value
    in furs, jewelry, and personal ornaments for any individual, private libraries of every individual, but not to exceed $1,500.00 in value, and
    all family pictures and keepsakes, $1,500;
    household goods, appliances, furniture, and home and yard equipment, not to exceed $2,700.00 in value,
    other personal property, $2,000;
    motor vehicle, $2,500;
    cash or bank accounts in an amount not to exceed $100.00,
    two motor vehicles, farmer's equipment and tools not to exceed $5,000.00 in value,
    professional library, office furniture, office equipment and supplies, not to exceed $5,000.00 in value, and
    tools of trade in an amount not to exceed $5,000.00 in value.
    Some other personal property exemption may include:

    certain retirement plan benefits, insurance proceeds, public assistance and unemployment benefits. (RCW 6.15.010.)
    In a bankruptcy proceeding, personal property exemptions may not be claimed by one spouse that is not a joint case or a joint administration of the estate with the bankruptcy estate of the other spouse where (a) bankruptcy is filed by both spouses within a six-month period, and (b) one spouse exempts property from property of the estate under the bankruptcy exemption provisions of
    11 U.S.C. Sec. 522(d). (RCW 6.15.050(7).)
    www.BankruptcyForum.com

    #2
    Increase in Homestead Exemption

    Washington increased its homestead exemption to $125,000 effective 7/22/07. For more information, check out:

    usa-bankruptcy-guide.com is your first and best source for all of the information you’re looking for. From general topics to more of what you would expect to find here, usa-bankruptcy-guide.com has it all. We hope you find what you are searching for!

    Comment


      #3
      What was the old exemption amount?

      Comment

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