Welcome to the BETA Preview of the new v4.0 LegalConsumer.com. We're still at work!... Pardon our dust!...Thanks!   

Bankruptcy Citation

Click for NEW YORK, New York Forecast

Citation: Stat. - Cal. Civ. Proc. Code 703.130

California Bankruptcy Exemptions

Category: Opt Out Law

Summary: California has elected to "opt out" of the federal exemptions pursuant to Code 522(b). CCPC 703.130. In California, the state law provides for two alternative sets of exemptions with one of the alternatives being very similar to the exemptions listed in Code 522(d). Choices between the two alternatives are limited in that a husband and wife filing jointly must both elect the same alternative and a married debtor filing individually cannot elect the provisions similar to those provided under the Bankruptcy Code unless the nonfiling spouse agrees to waive the right to claim the alternative exemption during the subsequent bankruptcy of that debtor.

  • Other State Citations
  • Other States on this topic 2

Other California Exemption Citations

  • Cal. Civ. Proc. Code 704.710 - Real or personal property you occupy including mobile home, boat, stock cooperative, community apartment, planned development, or condo to $75,000 if single & not disabled; $100,000 for families if no other member has a homestead (if only one spouse files, may exempt one-half of amount if home held as community property and all of amount if home held as tenants in common); $175,000 if 65 or older, or physically or mentally disabled; $175,000 if 55 or older, single, & with gross annual income under $25,000 or married & gross annual income under $35,000 & creditors seek to force the sale of your home; forced sale proceeds received exempt for 6 months after; separated but married debtor may claim homestead in community property still occupied by other spouse. (Husband & wife may not double)
  • Cal. Civ. Proc. Code 704.720 - Real or personal property you occupy including mobile home, boat, stock cooperative, community apartment, planned development, or condo to $75,000 if single & not disabled; $100,000 for families if no other member has a homestead (if only one spouse files, may exempt one-half of amount if home held as community property and all of amount if home held as tenants in common); $175,000 if 65 or older, or physically or mentally disabled; $175,000 if 55 or older, single, & with gross annual income under $25,000 or married & gross annual income under $35,000 & creditors seek to force the sale of your home; forced sale proceeds received exempt for 6 months after; separated but married debtor may claim homestead in community property still occupied by other spouse. (Husband & wife may not double)
  • Cal. Civ. Proc. Code 704.730 - Real or personal property you occupy including mobile home, boat, stock cooperative, community apartment, planned development, or condo to $75,000 if single & not disabled; $100,000 for families if no other member has a homestead (if only one spouse files, may exempt one-half of amount if home held as community property and all of amount if home held as tenants in common); $175,000 if 65 or older, or physically or mentally disabled; $175,000 if 55 or older, single, & with gross annual income under $25,000 or married & gross annual income under $35,000 & creditors seek to force the sale of your home; forced sale proceeds received exempt for 6 months after; separated but married debtor may claim homestead in community property still occupied by other spouse. (Husband & wife may not double)
  • In re McFall, 112 B.R. 336 (9th Cir. B.A.P. 1990) - Real or personal property you occupy including mobile home, boat, stock cooperative, community apartment, planned development, or condo to $75,000 if single & not disabled; $100,000 for families if no other member has a homestead (if only one spouse files, may exempt one-half of amount if home held as community property and all of amount if home held as tenants in common); $175,000 if 65 or older, or physically or mentally disabled; $175,000 if 55 or older, single, & with gross annual income under $25,000 or married & gross annual income under $35,000 & creditors seek to force the sale of your home; forced sale proceeds received exempt for 6 months after; separated but married debtor may claim homestead in community property still occupied by other spouse. (Husband & wife may not double)
  • Cal. Civ. Proc. Code 704.920 - May file homestead declaration to protect exemption amount from attachment of judicial liens and to protect proceeds of voluntary sale for 6 months.
  • Cal. Civ. Proc. Code 704.950 - May file homestead declaration to protect exemption amount from attachment of judicial liens and to protect proceeds of voluntary sale for 6 months.
  • Cal. Civ. Proc. Code 704.960 - May file homestead declaration to protect exemption amount from attachment of judicial liens and to protect proceeds of voluntary sale for 6 months.
  • Cal. Civ. Proc. Code 704.130 - Disability or health benefits
  • Cal. Civ. Proc. Code 704.170 - Fraternal Benefit Society benefits
  • Cal. Civ. Proc. Code 704.120 - Fraternal unemployment benefits
  • In re Laskin, 222 B.R. 872 (9th Cir BAP 1998) - Cannot strip off lien using 506 in chapter 7
  • Cal. Civ. Proc. Code 704.050 - Exemptions Indexed for inflation every 4 years
  • Cal. Civ. Proc. Code 703.140 (b)(9) - Exemptions Indexed for inflation every 4 years
  • Cal. Fin. Code 17410 - Funds held in escrow
  • Cal. Civ. Proc. Code 704.200 - Burial plot
  • Cal. Civ. Proc. Code 704.030 - Building materials to repair or improve home to $3,200 (husband and wife may not double)
  • Cal. Civ. Proc. Code 704.080 - Bank deposits from Social Security Administration to $3,200 ($4,800 for husband and wife); unlimited if SS funds are not commingled with other funds Bank deposits of other public benefits to $1,600 ($2,375 for husband and wife)
  • Cal. Civ. Proc. Code 704.020 - Appliances, furnishings, clothing, & food
  • Cal. Civ. Proc. Code 704.110 - Public retirement benefits
  • Cal. Gov't. Code 21255 - Public employees
  • Cal. Civ. Proc. Code 704.115 - Private retirement benefits, including IRAs & Keoghs
  • Cal. Gov't. Code 31913 - County peace officers
  • Cal. Gov't. Code 32210 - County firefighters
  • Cal. Gov't. Code 31452 - County employees
  • Cal. Corp. Code 16501 - Property of business partnership
  • Cal. Civ. Proc. Code 695.060 - Business or professional licenses
  • Cal. Civ. Proc. Code 704.090 - Inmates' trust funds to $1,600 (husband and wife may not double)
  • Cal. Civ. Proc. Code 704.100 (b) - Unmatured life insurance policy loan value to $12,800 (husband & wife may double)
  • Cal. Civ. Proc. Code 704.100 (c) - Matured life insurance benefits needed for support
  • Cal. Ins. Code 10132 - Life insurance proceeds or avails if clause prohibits proceeds from being used to pay beneficiary's creditors
  • Cal. Ins. Code 10170 - Life insurance proceeds or avails if clause prohibits proceeds from being used to pay beneficiary's creditors
  • Cal. Ins. Code 10171 - Life insurance proceeds or avails if clause prohibits proceeds from being used to pay beneficiary's creditors
  • Cal. Civ. Proc. Code 704.720 (b) - Homeowners' insurance proceeds for 6 months after received, to homestead exemption amount
  • Cal. Lab. Code 404 - Fidelity bonds
  • Cal. Civ. Code 1366 (c) - Homeowners' Association Assessments (only exempt from association's creditors)
  • Cal. Civ. Proc. Code 704.040 - Jewelry, heirlooms & art to $8,000 total (husband and wife may not double)
  • Cal. Civ. Proc. Code 704.010 - Motor vehicles to $3,050, or $3,050 in auto insurance for loss or damages (husband and wife may not double)
  • Cal. Civ. Proc. Code 704.140 (a) - Personal injury & wrongful death causes of action
  • Cal. Civ. Proc. Code 704.150 (a) - Personal injury & wrongful death causes of action
  • Cal. Civ. Proc. Code 704.140 (b),(c),(d) - Personal injury & wrongful death recoveries needed for support; if receiving installments, at least 75%
  • Cal. Civ. Proc. Code 704.150 (b),(c) - Personal injury & wrongful death recoveries needed for support; if receiving installments, at least 75%
  • Cal. Civ. Proc. Code 704.170 - Aid to blind, aged, disabled; public assistance
  • Cal. Civ. Proc. Code 704.190 - Financial aid to students
  • Cal. Civ. Proc. Code 704.180 - Relocation benefits
  • Cal. Civ. Proc. Code 704.120 - Unemployment benefits
  • Cal. Civ. Proc. Code 704.120 (b)(5) - Union benefits due to labor dispute
  • Cal. Civ. Proc. Code 704.160 - Workers' compensation
  • Cal. Civ. Proc. Code 704.060 - Tools, implements, materials, instruments, uniforms, books, furnishings, & equipment to $8,000 total ($15,975 total if used by both spouses in same occupation); Commercial motor vehicle to $4,850 ($9,700 if used by debtor and spouse in same trade)
  • Cal. Civ. Proc. Code 704.060 - Commercial vehicle (Vehicle Code 260) to $4,850 ($9,700 total if used by both spouses in same occupation)
  • Cal. Civ. Proc. Code 704.070 - Minimum 75% of wages paid within 30 days prior to filing
  • Cal. Civ. Proc. Code 704.113 - Public employees' vacation credits; if receiving installments, at least 75%
  • Cal. Civ. Proc. Code 703.150 - Exemptions Indexed for inflation every 4 years
  • Cal. Corp. Code 16502 - Property of business partnership
  • Cal. Corp. Code 16503 - Property of business partnership
  • Cal. Corp. Code 16504 - Property of business partnership
  • Cal. Civ. Proc. Code 703.130 - California has elected to "opt out" of the federal exemptions pursuant to Code 522(b). CCPC 703.130. In California, the state law provides for two alternative sets of exemptions with one of the alternatives being very similar to the exemptions listed in Code 522(d). Choices between the two alternatives are limited in that a husband and wife filing jointly must both elect the same alternative and a married debtor filing individually cannot elect the provisions similar to those provided under the Bankruptcy Code unless the nonfiling spouse agrees to waive the right to claim the alternative exemption during the subsequent bankruptcy of that debtor.
  • Cal. Civ. Proc. Code 703.150 (c) - Real or personal property you occupy including mobile home, boat, stock cooperative, community apartment, planned development, or condo to $75,000 if single & not disabled; $100,000 for families if no other member has a homestead (if only one spouse files, may exempt one-half of amount if home held as community property and all of amount if home held as tenants in common); $175,000 if 65 or older, or physically or mentally disabled; $175,000 if 55 or older, single, & with gross annual income under $25,000 or married & gross annual income under $35,000 & creditors seek to force the sale of your home; forced sale proceeds received exempt for 6 months after; separated but married debtor may claim homestead in community property still occupied by other spouse. (Husband & wife may not double)
  • Cal. Civ. Proc. Code 704.210 - Funds held in escrow

50 State Opt Out Law Exemptions

  • In re McNutt, 87 BR 84 (9th Cir. 1988) - Alaska has not elected to "opt out" of the federal exemptions pursuant to Code 522(b). Instead, Alaska has enacted a provision, AS 09.38.055, which limits the exemptions available to a debtor filing bankruptcy and residing in Alaska to those within the following statutes: AS 09.38.010, 09.38.015, 09.38.017, 09.38.020, 09.38.025 and 09.38.030.
  • Alaska Stat. 09.38.055 - Alaska has not elected to "opt out" of the federal exemptions pursuant to Code 522(b). Instead, Alaska has enacted a provision, AS 09.38.055, which limits the exemptions available to a debtor filing bankruptcy and residing in Alaska to those within the following statutes: AS 09.38.010, 09.38.015, 09.38.017, 09.38.020, 09.38.025 and 09.38.030.
  • Ala. Code 6-10-11 - Alabama has elected to "opt out" of the federal exemptions pursuant to Code 522(b). AC 6-10-11.
  • In re Holt, 894 F2d 1005 (8th Cir. 1990) - In a federal bankruptcy case Arkansas allows its residents to choose either the property exemptions provided by the laws of Arkansas or the property exemptions provided by Code 522(d). ACA 16-66-217.
  • Ark. Code Ann. 16-66-217 - In a federal bankruptcy case Arkansas allows its residents to choose either the property exemptions provided by the laws of Arkansas or the property exemptions provided by Code 522(d). ACA 16-66-217.
  • Ariz. Rev. Stat. 33-1133 (B) - Arizona has elected to "opt out" of the federal exemptions pursuant to Code 522(b). ARSA 33-1133(B)
  • Cal. Civ. Proc. Code 703.130 - California has elected to "opt out" of the federal exemptions pursuant to Code 522(b). CCPC 703.130. In California, the state law provides for two alternative sets of exemptions with one of the alternatives being very similar to the exemptions listed in Code 522(d). Choices between the two alternatives are limited in that a husband and wife filing jointly must both elect the same alternative and a married debtor filing individually cannot elect the provisions similar to those provided under the Bankruptcy Code unless the nonfiling spouse agrees to waive the right to claim the alternative exemption during the subsequent bankruptcy of that debtor.
  • Cal. Civ. Proc. Code 703.130 - California has elected to "opt out" of the federal exemptions pursuant to Code 522(b). CCPC 703.130. In California, the state law provides for two alternative sets of exemptions with one of the alternatives being very similar to the exemptions listed in Code 522(d). Choices between the two alternatives are limited in that a husband and wife filing jointly must both elect the same alternative and a married debtor filing individually cannot elect the provisions similar to those provided under the Bankruptcy Code unless the nonfiling spouse agrees to waive the right to claim the alternative exemption during the subsequent bankruptcy of that debtor.
  • Colo. Rev. Stat. 13-54-107 - Colorado has elected to "opt out" of the federal exemptions pursuant to Code 522(d). CRS 13-54-107.
  • Del. Code Ann. tit. 10, 4914 (a) - Delaware has elected to "opt out" of the federal exemptions pursuant to Code 522(b). DCA 10 4914(a)
  • Fla. Stat. Ann. 222.20 - Florida has elected to "opt out" of the federal exemptions pursuant to Code 522(b). FSA 222.20
  • Ga. Code Ann. 44-13-100 (b) - Georgia has elected to "opt out" of the federal exemptions pursuant to Code 522(b). GCA 44-13-100(b)
  • Iowa Code 627.10 - Iowa has elected to "opt out" of the federal exemptions pursuant to Code 522(b). ICA 627.10.
  • Idaho Code 11-609 - Idaho has elected to "opt out" of the federal exemptions pursuant to Code 522(b). IC 11-609.
  • 735 Ill. Comp. Stat. 5/12-1201 - Illinois has elected to "opt out" of the federal exemptions pursuant to Code 522(b).
  • Ind. Code Ann. 34-55-10-1 - Indiana has elected to "opt out" of the federal exemptions pursuant to Code 522(b). ICA 34-55-10-1.
  • Kan. Stat. Ann. 60-2312 - Kansas has elected to "opt out" of the federal exemptions pursuant to Code 522(b) except property listed in Code 522(d)(10) for all cases filed after July 1, 1986 (KSA 60-2312).
  • Ky. Rev. Stat. Ann. 427.170 - In 2005, Kentucky elected to "opt in" to the federal exemptions pursuant to Code 522(b). KRSA 427.170.
  • La. Rev. Stat. Ann. 13:3881 (B)(1) - Louisiana has elected to "opt out" of the federal exemptions pursuant to Code 522. LRSA 13:3881(B)(1)
  • Md. Code Ann., [Cts. & Jud. Proc.] 11-504 (g) - Maryland has elected to "opt out" of the federal exemptions pursuant to Code 522(b). MC&JPCA 11-504(g).
  • Me. Rev. Stat. Ann. tit. 14, 4426 - Maine has elected to "opt out" of the federal exemptions pursuant to Code 522. MRSA 14 4426.
  • In re Sassak, 426 B.R. 680 (Bankr. E.D. Mich 2010) - Michigan has not opted out (Federal exemptions are available) but has enacted a special bankruptcy only exemption statute. However debtors may use other state exemptions as well.
  • Mo. Rev. Stat. 513.427 - Missouri has elected to "opt out" of the federal exemptions pursuant to Code 522(b). MAS 513.427.
  • Miss. Code Ann. 85-3-2 - Mississippi has elected to "opt out" of the federal exemptions pursuant to Code 522(b). MCA 85-3-2 effective July 1, 1991.
  • In re Shumaker, 124 B.R. 820 Bkrtcy.D.Mont.,199 (Bankr.D.Mont. 1991) - Montanta's bankruptcy-only exemptions do not conflict with the Federal Constitution
  • Mont. Code Ann. 31-2-106 - Montana has elected to "opt out" of the federal exemptions pursuant to Code 522(b). MCA 31-2-106.
  • N.C. Gen. Stat. 1C-1601 (f) - North Carolina has elected to "opt out" of the federal exemptions pursuant to Code 522(b). NCGS 1C-1601(f).
  • N.D. Cent. Code 28-22-17 - North Dakota has elected to "opt out" of the federal exemptions pursuant to Code 522(b). NDCC 28-22-17.
  • Neb. Rev. Stat. 25-15, 105 - Nebraska has elected to "opt out" of the federal exemptions pursuant to Code 522(b). NRS 25-15, 105.
  • Nev. Rev. Stat. Ann. 21.090 (3) - Nevada has elected to "opt out" of the federal exemptions pursuant to Code 522(b). NRSA 21.090(3).
  • N.Y. Debt. & Cred. Law 285 - As of 2011, New York allows residents to choose the federal exemptions pursuant to Code 522(b). NYD&CL 285
  • Ohio Rev. Code Ann. 2329.662 - Ohio has elected to "opt out" of the federal exemptions pursuant to Code 522(b). ORCA 2329.662.
  • 31 Okla. Stat. Ann. 1 (B) - Oklahoma has elected to "opt out" of the federal exemptions pursuant to Code 522(b). OSA 31 1(B).
  • Or. Rev. Stat. 18.300 - As of July 1, 2013, Oregon has ceased to "opt out" of the federal exemptions pursuant to Code 522(b). ORS 18.300. You can now use the federal exemptions.
  • S.C. Code Ann. 15-41-35 - South Carolina has elected to "opt out" of the federal exemptions pursuant to Code 522(b). SCCA 15-41-35.
  • S.D. Codified Laws Ann. 43-31-30 - South Dakota has elected to "opt out" of the federal exemptions pursuant to Code 522(b). SD CLA 43-31-30.
  • Tenn. Code Ann. 26-2-112 - Tennessee has elected to "opt out" of the federal exemptions pursuant to Code 522(b). TCA 26-2-112.
  • Utah Code Ann. 78B-5-513 - Utah has elected to "opt out" of the federal exemptions pursuant to Code 522(b). UCA 78B-5-513
  • Va. Code Ann. 34-3.1 - Virginia has elected to "opt out" of the federal exemptions pursuant to Code 522(b). VA 34-3.1.
  • In re Morrell, 394 B.R. 405 (Bkrtcy.N.D.W.Va 2008) - West Virginia's separate set of bankruptcy exemptions is not unconstitutional.
  • Sheehan v. Peveich, 574 F.3d 248 (4th Cir. 2009) - West Virginia's separate set of bankruptcy exemptions is not unconstitutional.
  • W. Va. Code 38-10-4 - West Virginia has elected to "opt out" of the federal exemptions pursuant to Code 522(b). WVC 38-10-4. West Virginia has two sets of state law exemptions. The exemptions for debtors who are not filing bankruptcy are provided under WVC 38-8-1 et seq. for personal property exemptions and WVC 38-9-1 et seq. for homestead exemptions.
  • Wyo. Stat. 1-20-109 - Wyoming has elected to "opt out" of the federal exemptions pursuant to Code 522(b). WS 1-20-109.

 

Web View:

Show in own window | State Statutes Home Page | Report a broken link

 

-->