Source: https://law.justia.com/codes/us/2013/title-11/chapter-5/subchapter-ii/section-522/
Timestamp: 2019-09-15 05:32:17
Document Index: 654564881

Matched Legal Cases: ['§ 522', '§ 501', '§ 521', '§ 522', '§2', '§2', '§224', '§307', '§308', '§307', '§216', '§224', '§216', '§216', '§501', '§108', '§108', '§501', '§108', '§303', '§303', '§283', '§283', '§453', '§453', '§306', '§306', '§453', '§306']

Exemptions - 11 U.S.C. § 522 (2013) :: Title 11 - Bankruptcy :: 2013 US Code :: US Codes and Statutes :: US Law :: Justia
Justia US Law US Codes and Statutes US Code 2013 US Code Title 11 - Bankruptcy Chapter 5 - CREDITORS, THE DEBTOR, AND THE ESTATE (§§ 501 - 562) Subchapter II - DEBTOR'S DUTIES AND BENEFITS (§§ 521 - 528) Section 522 - Exemptions
Exemptions - 11 U.S.C. § 522 (2013)
Subsection (a) of this section defines two terms: "dependent" includes the debtor's spouse, whether or not actually dependent; and "value" means fair market value as of the date of the filing of the petition.
Under proposed section 541, all property of the debtor becomes property of the estate, but the debtor is permitted to exempt certain property from property of the estate under this section. Property may be exempted even if it is subject to a lien, but only the unencumbered portion of the property is to be counted in computing the "value" of the property for the purposes of exemption.
—Longshoremen's and Harbor Workers' Compensation Act death and disability benefits, 33 U.S.C. 916;
Under proposed 11 U.S.C. 541, all property of the debtor becomes property of the estate, but the debtor is permitted to exempt certain property from property of the estate under this section. Property may be exempted even if it is subject to a lien, but only the unencumbered portion of the property is to be counted in computing the "value" of the property for the purposes of exemption. Thus, for example, a residence worth $30,000 with a mortgage of $25,000 will be exemptable [sic] to the extent of $5,000. This follows current law. The remaining value of the property will be dealt with in the bankruptcy case as is any interest in property that is subject to a lien.
Subsection (d) specifies the Federal exemptions to which the debtor is entitled. They are derived in large part from the Uniform Exemptions Act, promulgated by the Commissioners of Uniform State Laws in August, 1976. Eleven categories of property are exempted. First is a homestead to the extent of $10,000, which may be claimed in real or personal property that the debtor or a dependent of the debtor uses as a residence. Second, the debtor may exempt a motor vehicle to the extent of $1500. Third, the debtor may exempt household goods, furnishings, clothing, and similar household items, held primarily for the personal, family, or household use of the debtor or a dependent of the debtor. "Animals" includes all animals, such as pets, livestock, poultry, and fish, if they are held primarily for personal, family or household use. The limitation for third category items is $300 on any particular item. The debtor may also exempt up to $750 of personal jewelry.
2010—Subsec. (b)(3)(A). Pub. L. 111–327, §2(a)(17)(A), substituted "petition to the place" for "petition at the place" and "located in a single State" for "located at a single State".
Subsec. (c)(1). Pub. L. 111–327, §2(a)(17)(B), substituted "such paragraph" for "section 523(a)(5)".
2005—Subsec. (b). Pub. L. 109–8, §224(a)(1)(B)–(F), designated introductory provisions of subsec. (b) as par. (1), substituted "paragraph (3)" for "paragraph (2)" in two places and "paragraph (2)" for "paragraph (1)" wherever appearing, struck out "Such property is—" after "case is filed.", and struck out former par. (1) which read: "property that is specified under subsection (d) of this section, unless the State law that is applicable to the debtor under paragraph (2)(A) of this subsection specifically does not so authorize; or, in the alternative,".
Subsec. (b)(3). Pub. L. 109–8, §307(2), inserted "If the effect of the domiciliary requirement under subparagraph (A) is to render the debtor ineligible for any exemption, the debtor may elect to exempt property that is specified under subsection (d)." at end.
Subsec. (b)(3)(A). Pub. L. 109–8, §308(1), inserted "subject to subsections (o) and (p)," before "any property".
Pub. L. 109–8, §307(1), substituted "730 days" for "180 days" and "or if the debtor's domicile has not been located at a single State for such 730-day period, the place in which the debtor's domicile was located for 180 days immediately preceding the 730-day period or for a longer portion of such 180-day period than in any other place" for ", or for a longer portion of such 180-day period than in any other place".
Subsec. (c)(1). Pub. L. 109–8, §216(1), added par. (1) and struck out former par. (1) which read as follows: "a debt of a kind specified in section 523(a)(1) or 523(a)(5) of this title;".
Subsec. (d). Pub. L. 109–8, §224(a)(2)(A), substituted "subsection (b)(2)" for "subsection (b)(1)" in introductory provisions.
Subsec. (f)(1)(A). Pub. L. 109–8, §216(2), substituted "a debt of a kind that is specified in section 523(a)(5); or" for "a debt—
"(i) to a spouse, former spouse, or child of the debtor, for alimony to, maintenance for, or support of such spouse or child, in connection with a separation agreement, divorce decree or other order of a court of record, determination made in accordance with State or territorial law by a governmental unit, or property settlement agreement; and
"(ii) to the extent that such debt—
"(I) is not assigned to another entity, voluntarily, by operation of law, or otherwise; and
"(II) includes a liability designated as alimony, maintenance, or support, unless such liability is actually in the nature of alimony, maintenance or support.; or".
Subsec. (g)(2). Pub. L. 109–8, §216(3), substituted "subsection (f)(1)(B)" for "subsection (f)(2)".
1994—Subsec. (b). Pub. L. 103–394, §501(d)(12)(A), substituted "Federal Rules of Bankruptcy Procedure" for "Bankruptcy Rules".
Subsec. (d)(1) to (6). Pub. L. 103–394, §108(d)(1)–(6), substituted "$15,000" for "$7,500" in par. (1), "$2,400" for "$1,200" in par. (2), "$400" and "$8,000" for "$200" and "$4,000", respectively, in par. (3), "$1,000" for "$500" in par. (4), "$800" and "$7,500" for "$400" and "$3,750", respectively, in par. (5), and "$1,500" for "$750" in par. (6).
Subsec. (d)(8). Pub. L. 103–394, §108(d)(7), substituted "$8,000" for "$4,000".
Subsec. (d)(10)(E)(iii). Pub. L. 103–394, §501(d)(12)(B), substituted "or 408" for "408, or 409" and "Internal Revenue Code of 1986" for "Internal Revenue Code of 1954 (26 U.S.C. 401(a), 403(a), 403(b), 408, or 409)".
Subsec. (d)(11)(D). Pub. L. 103–394, §108(d)(8), substituted "$15,000" for "$7,500".
Subsec. (f)(1). Pub. L. 103–394, §§303(3), 310(1), designated existing provisions as par. (1) and inserted "but subject to paragraph (3)" after "waiver of exemptions" in introductory provisions. Former par. (1) redesignated subpar. (A) of par. (1).
Subsec. (f)(1)(A). Pub. L. 103–394, §§303(2), 304(d), redesignated par. (1) as subpar. (A) of par. (1) and inserted ", other than a judicial lien that secures a debt—
"(II) includes a liability designated as alimony, maintenance, or support, unless such liability is actually in the nature of alimony, maintenance or support."
1986—Subsec. (h)(1). Pub. L. 99–554, §283(i)(1), substituted "553 of this title" for "553 of this tittle".
Subsec. (i)(2). Pub. L. 99–554, §283(i)(2), substituted "this" for "his" after "subsection (g) of".
1984—Subsec. (a)(2). Pub. L. 98–353, §453(a), inserted "or, with respect to property that becomes property of an estate after such date, as of the date such property becomes property of the estate".
Subsec. (c). Pub. L. 98–353, §453(b), amended subsec. (c) generally. Prior to amendment, subsec. (c) read as follows: "Unless the case is dismissed, property exempted under this section is not liable during or after the case for any debt of the debtor that arose, or that is determined under section 502 of this title as if such claim had arisen before the commencement of the case, except—
"(1) a debt of a kind specified in section 523(a)(1) or section 523(a)(5) of this title; or
"(2) a lien that is—
"(A) not avoided under section 544, 545, 547, 548, 549, or 724(a) of this title;
"(B) not voided under section 506(d) of this title; or
"(C)(i) a tax lien, notice of which is properly filed; and
"(ii) avoided under section 545(2) of this title."
Subsec. (d)(3). Pub. L. 98–353, §306(b), inserted "or $4,000 in aggregate value".
Subsec. (d)(5). Pub. L. 98–353, §306(c), amended par. (5) generally. Prior to amendment, par. (5) read as follows: "The debtor's aggregate interest, not to exceed in value $400 plus any unused amount of the exemption provided under paragraph (1) of this subsection, in any property."
Subsec. (e). Pub. L. 98–353, §453(c), substituted "an exemption" for "exemptions".
Subsec. (m). Pub. L. 98–353, §306(d), substituted "Subject to the limitation in subsection (b), this section shall apply separately with respect to each debtor in a joint case" for "This section shall apply separately with respect to each debtor in a joint case".
By notice dated Feb. 12, 2013, 78 F.R. 12089, effective Apr. 1, 2013, in subsec. (d)(1), dollar amount "21,625" was adjusted to "22,975"; in subsec. (d)(2), dollar amount "3,450" was adjusted to "3,675"; in subsec. (d)(3), dollar amounts "550" and "11,525" were adjusted to "575" and "12,250", respectively; in subsec. (d)(4), dollar amount "1,450" was adjusted to "1,550"; in subsec. (d)(5), dollar amounts "1,150" and "10,825" were adjusted to "1,225" and "11,500", respectively; in subsec. (d)(6), dollar amount "2,175" was adjusted to "2,300"; in subsec. (d)(8), dollar amount "11,525" was adjusted to "12,250"; in subsec. (d)(11)(D), dollar amount "21,625" was adjusted to "22,975"; in subsec. (f)(3), dollar amount "5,850" was adjusted to "6,225"; in subsec. (f)(4), dollar amount "600" was adjusted to "650" each time it appeared; in subsec. (n), dollar amount "1,171,650" was adjusted to "1,245,475"; in subsec. (p), dollar amount "146,450" was adjusted to "155,675"; and, in subsec. (q), dollar amount "146,450" was adjusted to "155,675". See notice of the Judicial Conference of the United States set out as a note under section 104 of this title.
By notice dated Feb. 19, 2010, 75 F.R. 8747, effective Apr. 1, 2010, in subsec. (d)(1), dollar amount "20,200" was adjusted to "21,625"; in subsec. (d)(2), dollar amount "3,225" was adjusted to "3,450"; in subsec. (d)(3), dollar amounts "525" and "10,775" were adjusted to "550" and "11,525", respectively; in subsec. (d)(4), dollar amount "1,350" was adjusted to "1,450"; in subsec. (d)(5), dollar amounts "1,075" and "10,125" were adjusted to "1,150" and "10,825", respectively; in subsec. (d)(6), dollar amount "2,025" was adjusted to "2,175"; in subsec. (d)(8), dollar amount "10,775" was adjusted to "11,525"; in subsec. (d)(11)(D), dollar amount "20,200" was adjusted to "21,625"; in subsec. (f)(3)(B), dollar amount "5,475" was adjusted to "5,850"; in subsec. (f)(4)(B), dollar amount "550" was adjusted to "600" each time it appeared; in subsec. (n), dollar amount "1,095,000" was adjusted to "1,171,650"; in subsec. (p)(1), dollar amount "136,875" was adjusted to "146,450"; and, in subsec. (q)(1), dollar amount "136,875" was adjusted to "146,450".
By notice dated Feb. 7, 2007, 72 F.R. 7082, effective Apr. 1, 2007, in subsec. (d)(1), dollar amount "18,450" was adjusted to "20,200"; in subsec. (d)(2), dollar amount "2,950" was adjusted to "3,225"; in subsec. (d)(3), dollar amounts "475" and "9,850" were adjusted to "525" and "10,775", respectively; in subsec. (d)(4), dollar amount "1,225" was adjusted to "1,350"; in subsec. (d)(5), dollar amounts "975" and "9,250" were adjusted to "1,075" and "10,125", respectively; in subsec. (d)(6), dollar amount "1,850" was adjusted to "2,025"; in subsec. (d)(8), dollar amount "9,850" was adjusted to "10,775"; in subsec. (d)(11)(D), dollar amount "18,450" was adjusted to "20,200"; in subsec. (f)(3), dollar amount "5,000" was adjusted to "5,475"; in subsec. (f)(4), dollar amount "500" was adjusted to "550" each time it appeared; in subsec. (n), dollar amount "1,000,000" was adjusted to "1,095,000"; in subsec. (p), dollar amount "125,000" was adjusted to "136,875"; and, in subsec. (q), dollar amount "125,000" was adjusted to "136,875".
By notice dated Feb. 18, 2004, 69 F.R. 8482, effective Apr. 1, 2004, in subsec. (d)(1), dollar amount "17,425" was adjusted to "18,450"; in subsec. (d)(2), dollar amount "2,775" was adjusted to "2,950"; in subsec. (d)(3), dollar amounts "450" and "9,300" were adjusted to "475" and "9,850", respectively; in subsec. (d)(4), dollar amount "1,150" was adjusted to "1,225"; in subsec. (d)(5), dollar amounts "925" and "8,725" were adjusted to "975" and "9,250", respectively; in subsec. (d)(6), dollar amount "1,750" was adjusted to "1,850"; in subsec. (d)(8), dollar amount "9,300" was adjusted to "9,850"; and, in subsec. (d)(11)(D), dollar amount "17,425" was adjusted to "18,450".
By notice dated Feb. 13, 2001, 66 F.R. 10910, effective Apr. 1, 2001, in subsec. (d)(1), dollar amount "16,150" was adjusted to "17,425"; in subsec. (d)(2), dollar amount "2,575" was adjusted to "2,775"; in subsec. (d)(3), dollar amounts "425" and "8,625" were adjusted to "450" and "9,300", respectively; in subsec. (d)(4), dollar amount "1,075" was adjusted to "1,150"; in subsec. (d)(5), dollar amounts "850" and "8,075" were adjusted to "925" and "8,725", respectively; in subsec. (d)(6), dollar amount "1,625" was adjusted to "1,750"; in subsec. (d)(8), dollar amount "8,625" was adjusted to "9,300"; and, in subsec. (d)(11)(D), dollar amount "16,150" was adjusted to "17,425".
By notice dated Feb. 3, 1998, 63 F.R. 7179, effective Apr. 1, 1998, in subsec. (d)(1), dollar amount "15,000" was adjusted to "16,150"; in subsec. (d)(2), dollar amount "2,400" was adjusted to "2,575"; in subsec. (d)(3), dollar amounts "400" and "8,000" were adjusted to "425" and "8,625", respectively; in subsec. (d)(4), dollar amount "1,000" was adjusted to "1,075"; in subsec. (d)(5), dollar amounts "800" and "7,500" were adjusted to "850" and "8,075", respectively; in subsec. (d)(6), dollar amount "1,500" was adjusted to "1,625"; in subsec. (d)(8), dollar amount "8,000" was adjusted to "8,625"; and, in subsec. (d)(11)(D), dollar amount "15,000" was adjusted to "16,150".