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Unused Homestead Exemption in Minnesota

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    Unused Homestead Exemption in Minnesota

    What if you do not own a home, can you still apply the unused $5000 homestead exemption towards property such as a vehicle?

    #2
    Originally posted by jacko View Post
    What if you do not own a home, can you still apply the unused $5000 homestead exemption towards property such as a vehicle?
    The OP's question related to VA's BK laws. In that instance, $5k of unused the homestead exemption could be used a wildcard. So yes, he could have done so (at least assuming he's correct about the VA laws--I have not researched them myself as I'm in Missouri).

    But the real question you need to get answered is what does YOUR state allow? Each state is different.
    Don
    Filed Pro Se on 8/4/11 (No Asset, Chapter 7)
    Redeemed Automobile ProSe (722 Redemption),Discharged on 11/3/11

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      #3
      Google MN exemptions and see what exeptions apply. I believe you have to apply it to homestead only but read for yourself. I went to legalconsumer.com when I googled.

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        #4
        I am from Minnesota and found that I was better off using the federal exemptions. Check those out. I was able to exempt cash with the unused homestead. When I originally filed, I used the MN Exemptions and stood to lose the money in the bank for my business. I then filed amended petition using Federal. Good luck!
        Filed pro se Chapter 7 08/12/2010 - Scheduled 341 Hearing 09/08/2010 - Trustee Report of No Distribution 09/09/2010 -
        Reaffirmation of Auto 09/27/2010 Approved 09/28/2010- Discharge 11/09/2010:

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