A debtor generally may claim exemption of his homestead and personal property from execution of a judgment against him or in a bankruptcy proceeding.
South Dakota statutes provide "absolute" exemptions of a judgment debtor's homestead to the value of $30,000;
certain personal property to sustain the basic needs and necessities of the debtor and his family. (Sections 43-45-2 and 43-45-3.)
Other additional property exemptions may include:
goods, chattels, merchandise, money or other personal property not exceeding in the aggregate four thousand dollars in value,
additional personal property or cash, Head of household = $6,000, Single person = $4,000;
miscellaneous books and musical instruments not exceeding two hundred dollars in value,
Farm equipment, $1,250;
domestic animals limited in numbers, and
other tools of trades limited in value.
Life insurance proceeds, $10,000;
Proceeds of life and health insurance, $12,000;
To insure that a debtor enjoys the comforts and necessities of life during retirement years, the State of South Dakota also permits exemption of certain retirement benefits or employee's benefit plans. (Sections 43-45-15.)
South Dakota statutes provide "absolute" exemptions of a judgment debtor's homestead to the value of $30,000;
certain personal property to sustain the basic needs and necessities of the debtor and his family. (Sections 43-45-2 and 43-45-3.)
Other additional property exemptions may include:
goods, chattels, merchandise, money or other personal property not exceeding in the aggregate four thousand dollars in value,
additional personal property or cash, Head of household = $6,000, Single person = $4,000;
miscellaneous books and musical instruments not exceeding two hundred dollars in value,
Farm equipment, $1,250;
domestic animals limited in numbers, and
other tools of trades limited in value.
Life insurance proceeds, $10,000;
Proceeds of life and health insurance, $12,000;
To insure that a debtor enjoys the comforts and necessities of life during retirement years, the State of South Dakota also permits exemption of certain retirement benefits or employee's benefit plans. (Sections 43-45-15.)