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Homestead Protection

Montana Homestead Exemption

How much of your home equity is protected if you file for bankruptcy in Montana?
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Montana WildCard Exemption
 
Does Montana Recognize Tenancy by the Entirety?

Updated: 2021-01-03 by

Real property or mobile home you occupy to $250,000; sale, condemnation, or insurance proceeds exempt for 18 months
Must record homestead declaration before filing for bankruptcy

Amount Joint amount

250000

250000

NOTE: Residency Requirement Caps Maximum Homestead at $160,375 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 $160,375. (If your state's exemption offers less than this amount, the law is irrelevant to you.) .

IF you are moving to another state, OR you moved to Montana within in the last two years, click here.

Federal Non-Bankruptcy Homestead Exemptions (available in every State)

These are exemptions under federal law, and not part of the bankruptcy code, so states cannot "opt out" from these exemptions.

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US Bankruptcy Code § 522(d) Homestead Exemption

Can a Montana debtor use the Federal Bankruptcy exemptions instead of Montana exemptions?

No. Mont. Code Ann. § 31-2-106

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.

 

Montana WildCard Exemption
 
Does Montana Recognize Tenancy by the Entirety?

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