Montana Bankruptcy Exemptions

Montana Exemption Notes

Montana Homestead Increased to $378,560 in 2023

Montana's generous homestead exemption is designated by law to increase by 4% yearly. Initially set at $350,000 in 2021, it has risen to $378,560 in just two years.

OPT OUT STATUS:

Can I use the §522(d) Federal Bankruptcy Exemptions in Montana?

No. Mont. Code Ann. § 31-2-106

KEY EXEMPTIONS:

Homestead

Real property or mobile home you occupy to $378,560*; sale, condemnation, or insurance proceeds exempt for 18 months
Must record homestead declaration before filing for bankruptcy

*2023 inflation adjustment

Motor Vehicle

Motor vehicle to $4,000

Wildcard

None

Personal Property

Appliances, household furnishings, goods, animals with feed, crops, musical instruments, books, firearms, sporting goods, clothing, & jewelry to $1250 per item, $7,000 total
Implements, books, & tools of trade to $4.500
Uniforms, arms, accoutrements needed to carry out government functions

See Also:
Insurance, Pensions, Public Benefits, Tools of Trade, Wages & Miscellaneous
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