Maine WildCard Exemption

 

Almost every state has an exemption for "any property" which is sometimes called the "wildcard" or "grubsteak" exemption. Generally this exemption is useful because it can be combined with other exemptions to fully protect equity that might otherwise go unprotected.

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Wildcard Exemptions — State System

Maine Law Exemptions

$400, in any property
Unused portion of exemption in homestead to $6,000; or unused exemption in animals, crops, musical instruments, books, clothing, furnishings, household goods, appliances, tools of the trade, & personal injury recoveries

Federal Non-Bankruptcy Wildcard Exemptions (none)

Wildcard Exemptions -- Federal System § 522(d)

Can Maine debtors use the Federal Bankruptcy exemptions instead of Maine exemptions?

No. Me. Rev. Stat. Ann. tit. 14, § 4426.

The Federal Bankruptcy Exemptions under 11 U.S.C. § 522(d) are available to you if

  • you haven't lived in any state longer than 180 days for a while,
  • or
  • if your state allows the Federal exemptions as a choice.


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Jurisdictional relevance: ST

There are versions of this article for each State.