- South Dakota Homestead Exemption
- Federal Non-Bankruptcy Homestead Exemptions (available in every State)
- US Bankruptcy Code § 522(d) Homestead Exemption
Homestead Exemptions - State System
(State Law + Federal Non-Bankruptcy Law)
Homestead Exemption Under South Dakota Law
Real property to unlimited value or mobile home (larger than 240 sq. ft. at its base and registered in state at least 6 months before filing) to unlimited value; property cannot exceed 1 acre in town or 160 acres elsewhere; sale proceeds to $30,000 ($170,000 if over age 70 or widow or widower who hasn't remarried) exempt for 1 year after sale (husband & wife may not double)
| Amount | Joint amount |
|---|---|
Unlimited |
no dollar limit |
NOTE: Residency Requirement Caps Maximum Homestead at $189,050 if you've recently moved to a State that allows more than that
Under the 2005 bankruptcy law, you must be have lived in the state for at least 40 months (3 years + 4 months) before you can claim any homestead protection greater than $189,050. (If your state's exemption offers less than this amount, the law is irrelevant to you.) .
Federal Non-Bankruptcy Homestead Exemptions
These are exemptions under federal law, but and are NOT part of the bankruptcy code list of exemptions in 522(d), so states cannot "opt out" from these exemptions. These exemptions available in every State ONLY IF you are using the state exemptions. You cannot use these exemptions if you are using the federal bankruptcy exemption scheme under § 522(d)
-
Homestead Exemptions - Federal Bankruptcy Exemptions
(Exemptions under 11 U.S.C. § 522(d) only)
No. S.D. Codified Laws §§ 43-31-30, 43-45-13.
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.