2023 CODE OF GEORGIA › Title 44 - PROPERTY (§§ 44-1-1 — 44-17-7) › Chapter 13 - EXEMPTIONS FROM LEVY AND SALE (§§ 44-13-1 — 44-13-120) › Article 2 - STATUTORY EXEMPTIONS (§§ 44-13-100 — 44-13-120) › Section 44-13-100 - Exemptions for purposes of bankruptcy and intestate insolvent estates

(a)
In lieu of the exemption provided in Code Section
44-13-1
, any debtor who is a natural person may exempt, pursuant to this article, for purposes of bankruptcy, the following property:
(1)
The debtor's aggregate interest, not to exceed $21,500.00 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 $43,000.00;
(2)
The debtor's right to receive:
(A)
A social security benefit, unemployment compensation, or a local public assistance benefit;
(B)
A veteran's benefit;
(C)
A disability, illness, or unemployment benefit;
(D)
Alimony, support, or separate maintenance, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor;
(E)
A payment under a pension, annuity, or similar plan or contract on account of illness, disability, death, age, or length of service, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor;
(F)
A payment from an individual retirement account within the meaning of Title
26 U.S.C. Section 408
to the extent reasonably necessary for the support of the debtor and any dependent of the debtor; and
(G)
Moneys paid into or out of, the assets of, and the income of a health savings account or medical savings account authorized under Chapter 51 of Title 33 or Sections 220 and 223 of the Internal Revenue Code of 1986.
(2.1)
The debtor's aggregate interest in any funds or property held on behalf of the debtor, and not yet distributed to the debtor, under any retirement or pension plan or system:
(A)
Which is:
(i)
maintained for public officers or employees or both by the State of Georgia or a political subdivision of the State of Georgia or both; and
(ii)
financially supported in whole or in part by public funds of the State of Georgia or a political subdivision of the State of Georgia or both;
(B)
Which is:
(i)
maintained by a nonprofit corporation which is qualified as an exempt organization under Code Section
48-7-25
for its officers or employees or both; and
(ii)
financially supported in whole or in part by funds of the nonprofit corporation;
(C)
To the extent permitted by the bankruptcy laws of the United States, similar benefits from the private sector of such debtor shall be entitled to the same treatment as those specified in subparagraphs (A) and (B) of this paragraph,
provided that the exempt or nonexempt status of periodic payments from such a retirement or pension plan or system shall be as provided under subparagraph (E) of paragraph (2) of this subsection; or
(D)
An individual retirement account within the meaning of Title
26 U.S.C. Section 408
;
(3)
The debtor's interest, not to exceed the total of $5,000.00 in value, in all motor vehicles;
(4)
The debtor's interest, not to exceed $300.00 in value in any particular item, in household furnishings, household goods, wearing apparel, appliances, books, animals, crops, or musical instruments that are held primarily for the personal, family, or household use of the debtor or a dependent of the debtor. The exemption of the debtor's interest in the items contained in this paragraph shall not exceed $5,000.00 in total value;
(5)
The debtor's aggregate interest, not to exceed $500.00 in value, in jewelry held primarily for the personal, family, or household use of the debtor or a dependent of the debtor;
(6)
The debtor's aggregate interest, not to exceed $1,200.00 in value plus any unused amount of the exemption, not to exceed $10,000.00, provided under paragraph (1) of this subsection, in any property;
(7)
The debtor's aggregate interest, not to exceed $1,500.00 in value, in any implements, professional books, or tools of the trade of the debtor or the trade of a dependent of the debtor;
(8)
Any unmatured life insurance contract owned by the debtor, other than a credit life insurance contract;
(9)
The debtor's aggregate interest, not to exceed $2,000.00 in value, less any amount of property of the estate transferred in the manner specified in Section 542(d) of U.S. Code Title 11, in any accrued dividend or interest under, or loan or cash value of, any unmatured life insurance contract owned by the debtor under which the insured is the debtor or an individual of whom the debtor is a dependent;
(10)
Professionally prescribed health aids for the debtor or a dependent of the debtor; and
(11)
The debtor's right to receive, or property that is traceable to:
(A)
An award under a crime victim's reparation law;
(B)
A payment on account of the wrongful death of an individual of whom the debtor was a dependent, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor;
(C)
A payment under a life insurance contract that insured the life of an individual of whom the debtor was a dependent on the date of such individual's death, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor;
(D)
A payment, not to exceed $10,000.00, on account of personal bodily injury, not including pain and suffering or compensation for actual pecuniary loss, of the debtor or an individual of whom the debtor is a dependent; or
(E)
A payment in compensation of loss of future earnings of the debtor or an individual of whom the debtor is or was a dependent, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor.
(b)
Pursuant to
11 U.S.C. Section 522(b)(1)
, an individual debtor whose domicile is in Georgia is prohibited from applying or utilizing
11 U.S.C. Section 522(d)
in connection with exempting property from his or her estate; and such individual debtor may exempt from property of his or her estate only such property as may be exempted from the estate pursuant to
11 U.S.C. Section 522(b)(2)(A) and (B)
. For the purposes of this subsection, an "individual debtor whose domicile is in Georgia" means an individual whose domicile has been located in Georgia for the 180 days immediately preceding the date of the filing of the bankruptcy petition or for a longer portion of such 180 day period than in any other place.
(c)
The exemptions and protections contained in this article are extended to intestate insolvent estates in all cases where there is a living widow or child of the intestate.
(d)
(1)
At any time after closing of a case filed pursuant to an act of Congress relating to bankruptcy, the debtor, his or her receiver or trustee, or any interested party may file with a clerk of court where a judgment lien is recorded an affidavit of lien release and shall attach thereto a certified copy of the discharge of such bankrupt or debtor and a lien avoidance order, or a certified copy of the order of confirmation of a plan and the plan as confirmed, together with a copy of the portions of the schedules filed by the debtor in the bankruptcy case listing the judgment creditor and identifying property as exempt. In addition, the filer shall certify that no order has been entered in the bankruptcy limiting the discharge as to the judgment or retaining the judgment lien.
(2)
Upon filing such affidavit, the lien of such judgment shall be deemed cancelled as to:
(A)
Any property which was:
(i)
Identified as exempt and for which a lien avoidance order was issued; or
(ii)
Re-vested in the debtor without lien retention under a plan; and
(B)
Any other property acquired by the debtor after the filing of the bankruptcy petition.
(3)
The clerk of court shall file such affidavit in the deed records and index the recording information as to the affidavit of lien release on the judgment lien in the appropriate lien record.
Amended by 2017 Ga. Laws 234,§ 1, eff. 7/1/2017.
Amended by 2015 Ga. Laws 167,§ 6-1, eff. 7/1/2015.
Amended by 2013 Ga. Laws 328,§ 2, eff. 7/1/2013.
Amended by 2013 Ga. Laws 33,§ 44, eff. 4/24/2013.
Amended by 2012 Ga. Laws 722,§ 2, eff. 5/2/2012.
Amended by 2001 Ga. Laws 220, § 1, eff. 7/1/2001.