Vehicle exemption doubled for joint filers?

[keepsmiling]

Since fed amt is 3450 , can we buy a used one worth twice that?

[debee]

My understanding is that if you jointly own the property, you can use the double exemption on it.

[daylate]

I think debee is correct-the car has to be titled in both names.

[BobMango]

I think debee is correct-the car has to be titled in both names.

It may depend on your state. We filed in Washington state using Federal exemptions. Using a combination of the vehicle exemption and the wildcard we protected 3 cars and a motorcycle. I assume since Washington is a community property state and we filed jointly it did not matter whose name was on the title. Had no issues with the trustee on it. Case was closed over a year ago so I'm guessing no audit forthcoming either.

[HHM]

Vehicle exemptions are typically per person (per debtor).

So, in Colorado for example, the vehicle exemption is $5,000. A married couple filing BK can exempt up to $10K in equity and spread it out over any number of vehicles (within reason).

[keepsmiling]

In NJ so it's gotta be fed or nothing, nada, zip, zilch
Never heard of buying a car in both names tho, is that even possible?

[debee]

Yes. You title it in both names.