Married in GA thinking of BK 7 no equity in house.
(1) The debtor´s aggregate interest, not to exceed $10,000.00 in
value, in real property or personal property that the debtor or a
dependent of the debtor uses as a residence, in a cooperative that
owns property that the debtor or a dependent of the debtor uses as a
residence, or in a burial plot for the debtor or a dependent of the
debtor. In the event title to property used for the exemption provided
under this paragraph is in one of two spouses who is a debtor, the
amount of the exemption hereunder shall be $20,000.00;
Wildcard
(6) The debtor´s aggregate interest, not to exceed $600.00 in value
plus any unused amount of the exemption, not to exceed $5,000.00,
provided under paragraph (1) of this subsection, in any property;
Brett Weiss
07-31-2003, 02:24 PM
I'm not familiar with the GA exemptions. Please note that the
exemptions cover everything--house, car, cash, household goods
and furnishings, clothing, jewelry, cash, money in bank accounts,
etc.
--
Brett
************************************************** ***************
* Personal Injury/Malpractice Bankruptcy *
* *
* BRETT WEISS, P.C. *
* Attorneys at Law *
* Maryland, D.C. and Federal Bars *
* lawyer@erols.com *
* http://www.erols.com/lawyer *
* *
* Small Business Estates & Estate Planning *
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The Small Print: This response is for discussion purposes only.
It isn't meant to be legal advice and you shouldn't treat it as
such. If you want legal advice, speak with a local lawyer
familiar with your state's laws who can review *all* of the facts
and the law applicable to your situation.
************************************************** ***************
"Gus" <gus_shult_2000@hotmail.com> wrote in message
news:9117a4e6.0307311234.7af9c5d4@posting.google.c om... Married in GA thinking of BK 7 no equity in house. (1) The debtor´s aggregate interest, not to exceed $10,000.00
in value, in real property or personal property that the debtor or
a dependent of the debtor uses as a residence, in a cooperative
that owns property that the debtor or a dependent of the debtor uses
as a residence, or in a burial plot for the debtor or a dependent of
the debtor. In the event title to property used for the exemption
provided under this paragraph is in one of two spouses who is a debtor,
the amount of the exemption hereunder shall be $20,000.00; Wildcard (6) The debtor´s aggregate interest, not to exceed $600.00 in
value plus any unused amount of the exemption, not to exceed
$5,000.00, provided under paragraph (1) of this subsection, in any
property;
Gus
08-01-2003, 07:09 AM
Brett can you tell me how much in cash I could have if I was MFJ, no
equity in house filing in MD? (would it be $11,000 wildcard $5500 *
2).
I was thinking I could use the cash to redeem the car.
Maryland does not use the federal exemptions. The total
exemptions available in Maryland are $5,500 + $500 for household
goods and furnishings. You need to fit all of your assets in
under these, including household gooes and furnishings, clothing,
jewelry, etc. Without knowing your other assets, it's impossible
to know how much cash you would be able to exempt.
--
Brett
************************************************** ***************
* Personal Injury/Malpractice Bankruptcy *
* *
* BRETT WEISS, P.C. *
* Attorneys at Law *
* Maryland, D.C. and Federal Bars *
* lawyer@erols.com *
* http://www.erols.com/lawyer *
* *
* Small Business Estates & Estate Planning *
************************************************** ***************
The Small Print: This response is for discussion purposes only.
It isn't meant to be legal advice and you shouldn't treat it as
such. If you want legal advice, speak with a local lawyer
familiar with your state's laws who can review *all* of the facts
and the law applicable to your situation.
************************************************** ***************
"Gus" <gus_shult_2000@hotmail.com> wrote in message
news:9117a4e6.0308010609.f9a67fa@posting.google.co m... Brett can you tell me how much in cash I could have if I was
MFJ, no equity in house filing in MD? (would it be $11,000 wildcard
$5500 * 2). I was thinking I could use the cash to redeem the car.
http://www.legis.state.ga.us/legis/2003_04/gacode/44-13-100.html
