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michigan firearm exemptions?

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    michigan firearm exemptions?

    does anyone know if michigan has any firearm exemptions? if so is it by number of firearms or value? the form i am filling out asks, for value of firearms, sports, photographic, and other hobby equipment. also my attorney mentioned that i could use a $10,000 wild card exemption, did i misunderstand this? is it supposed to be $1000? i do not own any real estate property if that matters.

    thanks for the helpful info on this site. been reading here for a few days now and decided to join.
    filed chapter-7 5/21/09
    341 meeting 7/20/09

    discharged -awaiting closing 9/21/09

    #2
    Michigan doesn't have a specific "firearms" exemption as does some midwestern States do. You could possibly cover it under "hobby" or sporting equipment.

    As far as I've read, there's no $10K wildcard in Michigan; Michigan doesn't even have a wildcard. But, Michigan is one of those States where you can choose between the Michigan exemptions or the Federal Exemptions. Since you're not a homeowner, you get the Federal unused homestead exemption which , combined with the Federal wildcard, is about $10K.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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      #3
      thanks for the info on the unused homestead exemption. i guess that is what he was referring to ($10k) wild card.
      filed chapter-7 5/21/09
      341 meeting 7/20/09

      discharged -awaiting closing 9/21/09

      Comment


        #4
        could someone tell me if these amounts look like they would be a problem to exempt. i see the atty in a few days, and just wondering before hand. i am in michigan. could they be listed under the wildcard, if not exempt under hobby?

        firearms, sports, photo, and other hobby
        walther .22 cal pistol 150.00
        s&w .45 cal revolver 450.00
        sig .40 cal pistol 200.00
        savage .17hmr rifle 130.00
        canon digital camera 75.00
        total of 1005.00
        filed chapter-7 5/21/09
        341 meeting 7/20/09

        discharged -awaiting closing 9/21/09

        Comment


          #5
          Sorry to threadjack (ironic with a gun topic ) I think I can cover all of my firearms under CA's exemption limits, but I was wondering about selling or transferring them after I file for CH13. Does anybody know if that is an issue? I was going to legally transfer two to my son on his 18th birthday... which will be about a month after I file.

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