Effective March 1, 2022, the Indiana legal exemptions used to protect property and assets for judgment debtors and debtors in bankruptcy have been updated.
Personal or family residence. Can be doubled for married couple who are both on deed. Does not apply to non-personal residence such as rental or investment property.
Tangible property includes personal property, automobiles, furniture, electronics, jewelry, clothing, and the like. Can also be used towards equity in real estate that is not used as a personal primary residence of the debtor.
Includes, but not limited to, cash, coins, money on deposit in a bank account, money owed to a debtor such as a claim. Does not apply to protecting wages owing.
Bankruptcy Law Office of Eric C Lewis
Lewis Legal Services, P.C. P.O. Box 40603 Indianapolis, IN 46240 USA