The Florida Homestead Exemption in A Chapter 7 Bankruptcy

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When filing a Chapter 7 Bankruptcy in the Middle District of Florida, debtors are entitled to several exemptions that allow them to keep assets out of the reach of the trustee. One of those exemptions is the Homestead exemption under Article X, Section 4(a) of the Florida Constitution which allows debtors to exempt the full amount of their homestead property from the bankruptcy estate. Under one of the newer additions to the bankruptcy law, referred to as the “wildcard exemption”, debtors are able to exempt up to $4,000 of personal property from the bankruptcy estate.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© David Wolf | Attorney Advertising

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