4 Questions
What is the maximum value a debtor can exempt in his homestead acquired within 1215 days before filing for bankruptcy?
$155,675
Under what condition can a person claim more than the $155,675 homestead exemption?
Living in the home for 3 1/3 years
What is the cap placed on IRA's according to 522 (n)?
$1.4 million
How does a fraudulent conveyance in the last 10 years affect the homestead exemption?
It is deducted by the amount of the fraudulent conveyance
Test your knowledge of bankruptcy law with this quiz on the limits of exceptions for debtors. Explore the "Debtor Abuse Protections" and understand the provisions of 522 (p)(n)(o) and 522 (p) related to homestead exemptions.
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