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Consumer Bankruptcy › Homestead Exemption

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -
Pullman & Comley, LLC

BANKRUPTCY BEAT: Connecticut Supreme Court Rules that New Homestead Law Applies to Protect up to $250,000 in Equity in a Home from...

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In an important ruling for personal bankruptcy cases in Connecticut, the Connecticut Supreme Court has ruled that Connecticut’s new homestead law, which increased the exempt amount of a “homestead” from $75,000 to $250,000,...more

Troutman Pepper

9th Circ. Ruling Clarifies Homestead Exemption Ambiguities

Troutman Pepper on

Suppose you are a lender or credit provider to California consumers. At the start of the pandemic, one of your customers runs up $50,000 in debt and fails to pay. You obtain a judgment and secure it by recording an...more

Pullman & Comley, LLC

Connecticut Bankruptcy Courts Rule That New Homestead Act Applies Retroactively to Claims Arising Before Act’s Effective Date

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A homestead exemption is a law that protects a certain amount of equity in an individual’s primary residence from the claims of his or her creditors or, in some states like Florida, the amount of the exemption is unlimited...more

Quarles & Brady LLP

Summary: HB 2617’s Amendments to Existing Arizona Homestead Exemption & Judgment Lien Laws

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HB 2617 is significantly altering the Arizona homestead exemption laws on December 31, 2021. Under current law, up to $150,000 in equity proceeds in a debtor’s home is exempt from collection by creditors. Additionally,...more

Jaburg Wilk

2021 Amendments to Arizona’s Homestead Statute Confused Yet?

Jaburg Wilk on

There has been a good amount of commentary regarding Arizona House Bill 2617, which amends the Arizona Homestead Statute, and related statutes, effective January 1, 2022. Despite what appears to be the consensus, the Bill is...more

Fox Rothschild LLP

Does Bankruptcy Put Equity In My Florida Homestead At Risk?

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In my November post, I discussed the basics regarding protection of your Florida Homestead from forced sale by creditors and alluded to exceptions to the rule. Let’s discuss some of those exceptions as it relates to a...more

Nutter McClennen & Fish LLP

The Lesson of In Re: Nealon – Homestead Is a Protection Worth Maximizing

Nutter McClennen & Fish LLP on

Every Massachusetts homeowner should be aware of the opportunities that are available for protecting the equity in the family home. A recent bankruptcy case, In re: Nealon, reminds us of one such opportunity – the...more

Lowndes

Good News for Secured Creditors and Commercial Lessors in Chapter 13 Cases

Lowndes on

A new administrative order was entered by Chief Judge Jennemann in the Middle District of Florida on August 10. The Middle District of Florida stretches from Jacksonville on the east coast, through Central Florida and down...more

Partridge Snow & Hahn LLP

Massachusetts Bankruptcy Court Holds that Homestead Protection is Available for Certain Home Offices

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The United States Bankruptcy Court for the District of Massachusetts recently issued a decision in the case of In re Walter D. Catton, Jr. shedding light on the Massachusetts homestead statute and its application to home...more

Snell & Wilmer

Homestead Exemption Cannot be Denied on Equitable Grounds

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Arizona’s homestead exemption allows a person to protect from certain creditors up to $150,000 of their equity in their residence (dwelling house, condominium, or mobile home). A.R.S. § 33-1101 et seq. This homestead equity...more

Foley & Lardner LLP

U.S. Supreme Court Reins in Bankruptcy Court Authority Under § 105(a)

Foley & Lardner LLP on

On March 4, 2014, the United States Supreme Court issued its decision in Law v. Siegel, 571 U.S. __ (Mar. 4, 2014) and held that the bankruptcy court exceeded its authority under section 105(a) of the Bankruptcy Code and its...more

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