Wildcard question

[deadbroke99]

South Carolina added a $5,000 wildcard exemption about 6 months ago. Can you double it for joint filers?
I know you can double everything else but wasn't sure if you can double wildcard. Thanks!

[momof3b1g]

Not from there but here yes you can.

[justbroke]

It's an unused homstead exemption. From what I can tell, 15-41-30 was modified to include the following paragraph;

S.C. 15-41-30
.
.
(5) The debtor’s aggregate interest in cash and other liquid assets to the extent of a value not exceeding five thousand dollars, except that this exemption is available only to an individual who does not claim a homestead exemption. The term ‘liquid assets’ includes deposits, securities, notes, drafts, unpaid earnings not otherwise exempt, accrued vacation pay, refunds, prepayments, and other receivables.

So, it's $5,000 and the thing reads "debtor" and has no other language to suggest that you can not double it. Since you could double the cash/liquid exemption (unmodified) statute (15-41-30(5)) prior to it being modified, it seems they only struck the words "one" and changed it to "five".

So, yes, you can double it. It's $5,000 for a single debtor, or $10,000 if both husband and wife file.

I do also note that it's not a wildcard option. It's a cash or other liquid asset, exemption option.

The term ‘liquid assets’ includes deposits, securities, notes, drafts, unpaid earnings not otherwise exempt, accrued vacation pay, refunds, prepayments, and other receivables.

http://www.************************/...and-increased/

[deadbroke99]

It's an unused homstead exemption. From what I can tell, 15-41-30 was modified to include the following paragraph;

So, it's $5,000 and the thing reads "debtor" and has no other language to suggest that you can not double it. Since you could double the cash/liquid exemption (unmodified) statute (15-41-30(5)) prior to it being modified, it seems they only struck the words "one" and changed it to "five".

So, yes, you can double it. It's $5,000 for a single debtor, or $10,000 if both husband and wife file.

I do also note that it's not a wildcardhttp://www.************************/...and-increased/

At the bottom it says it added a $5,000 wildcard.

[justbroke]

At the bottom it says it added a $5,000 wildcard.

I found it... sorry. They updated 15-41-30(7) to be an "any property" exemption. It's not updated anywhere but in ONE document from a judge who was reviewing the law.

I'm not even sure it's in the law because the S.C. State's Website only has updates through 2006!!!

five thousand dollars in value of an unused exemption amount to which the debtor is entitled pursuant to subsection (A), items (1) through (6).

This is interesting. It's not an unused homstead exemption (and this is why I couldn't find it). It's the unused portion of ANY of the generous exemptions in the Statute (14-51-30(1) through (6)).

My further read is that it basically makes items (1) through (6) each an unused exemption. So you could have a homestead and still use this provision.

http://www.scattorneygeneral.org/opinions/pdf/2008/draffin%20s%20t%20os-8619%207-1-08%20bankruptcy%20-%20exemption%20v.pdf