Minnesota Bankruptcy Exemptions - All Categories

 

A detailed listing of state and federal exemption laws, with statutory citations.

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Minnesota Exemptions Summary:

Homestead

Home and land on which it is situated to $480,000; if homestead is used for agricultural purposes, $1,120,000; cannot exceed 1/2 acre in city, 160 acres elsewhere (husband & wife may not double)

Vehicle Exemption

$5,200 (up to $52,000 if vehicle has been modified for disability) (adjusted for inflation July 1, 2022)

Personal Property

Appliances, furniture, jewelry, radio, phonographs, & TV to $11,700 total
Bible and books
Clothing, one watch, food, & utensils for family
Farm machines, implements, livestock, produce, & crops to $13,000 total
Tools, machines, instruments, stock in trade, furniture, & library to $13,000 total
Total value of Tools of Trade and Farm Machines combined cannot exceed $13,000 
(adjusted for inflation July 1, 2022)

Wild Card

None


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Jurisdictional relevance: ST

There are versions of this article for each State.