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Texas State & Federal Bankruptcy Exemptions
Through the list of Texas bankruptcy exemptions and federal bankruptcy exemptions, you can see how the assets protected under Texas State and federal bankruptcy laws differ. Not sure which asset exemptions to take? Discuss your legal options with our bankruptcy attorney in Houston, Texas. |
| ASSET |
EXEMPTION DESCRIPTION |
LAW SECTION |
Homestead |
Unlimited; property cannot exceed 10 acre in town, village, city or 100 acres (200 acres for families) elsewhere; sale proceeds exempt for 6 months after sale |
Property 41.001, 41.002 |
Personal Property |
Athletic and sporting equipment, including bicycles; 2 firearms; home furnishings, including family heirlooms; food; clothing; jewelry (not to exceed 25% of total exemption); 1 two-, three- or four wheeled motor vehicle per member of family or single adult who holds a driver's license (or who operates vehicle for someone else who does not have a license); 2 horses, mules or donkeys and a saddle, blanket and bridle for each; 12 head of cattle; 60 head of other types of livestock; 120 fowl; and pets to $30,000 total ($60,000 for head of family)
Burial plots
Health aids |
Property 42.001, 42.002
Property 41.001
Property 42.001(b) (2) |
Insurance |
Church benefit plan benefits |
1407a-6 |
| |
Fraternal benefit society benefits |
885.316 |
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Life, health, accident or annuity benefits or monies, including policy proceeds and cash values to be paid or rendered to beneficiary or insured |
Insurance 21.22 |
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Life insurance present value if beneficiary is debtor or debtor's dependent (see note under personal property) |
Property 42.002(a) (12) |
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Retired public school employees group insurance |
Insurance 3.50-4(11) (a) |
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Texas employee uniform group insurance |
3.50-4(11),1575.006 |
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Texas state college or university employee benefits |
1551.011 Insurance 3.50-3(9) (a) |
| Pensions |
County & district employees |
Government 811.005 |
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ERISA-qualified government or church benefits, including Keoghs and IRAs |
Government 811.005 |
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Firefighters |
Property 42.0021 |
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IRAs to extent tax-deferred |
Government 811.005 |
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Judges |
1407a-6 |
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Keoghs to extent tax-deferred |
Government 811.005 |
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Law enforcement officers' survivors |
Property 42.0021 |
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Municipal employees |
6228f(8) |
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Police officers |
6243g, Government |
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Retirement benefits to extent tax-deferred |
811.005 |
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State employees |
6243d-1(17), 6243j(20),6243g-1(23B) |
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Teachers |
6243d-1(17), 6243j(20),
6243g-1(23B)
Property 42.0021
Government 811.005 |
|
Public Benefits |
Crime victims' award |
| Public Benefits |
Crime victims' award |
Hum. Res. 32.036 |
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Medical assistance |
Hum. Res. 31.040 |
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Public assistance |
8308-4.07 |
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Unemployment compensation
Workers' compensation |
5221b-13 |
| Tools of Trade |
Crime victims' award
Medical assistance
Public assistance
Unemployment compensation
Workers' compensation
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Property 42.002(a) (3)
Property 42.002(a) (4) |
| Wages |
Earned but unpaid wages
Unpaid commissions to 75% (see personal property)
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EXEMPTION DESCRIPTION |
LAW SECTION |
| Retirement Benefits |
CIA Employees |
50 & 403 |
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Foreign service employees |
5 & 8346 |
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Military honor roll pensions |
38 & 562 |
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Military service employees |
10 & 1440 |
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Railroad workers |
45 & 23lm |
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Social Security |
42 & 407 |
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Veterans' benefits |
38 & 3101 |
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Veterans'medal of honor benefits |
38 & 562 |
| Survivor's benefits |
Judges, US scourt directors, judicial center directiors, supereme court chief justice administrators |
28 & 376 |
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Lighthouse workers |
33 & 775 |
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Military Service |
10 & 1450 |
| Death and Disability Benefits |
Government employees |
5 & 8130 |
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Longshoreman and harbor workers |
38 & 3101 |
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War risk hazard death or injury compensation |
42 & 1717 |
| Miscellaneous |
Klamath Indian tribe benefits for Indians resideing in Oregon |
25 & 543, 25 & 545 |
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Military deposits in savings accounts while on permanent duty outside continental U.S. |
10 & 1035 |
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Military group life insurance |
38 & 770(g) |
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Railroad workers' unemployment insurance |
45 & 352(e) |
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Seaman's clothing |
46 & 1110 |
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Seaman's wages (while at sea) pursuant to a written contract |
46 & 1111 |
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75% of earned but unpaid wages; bankruptcy judge may authorize more for low-income debetors |
15 |
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FEDERAL EXEMPTIONS |
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Married Couples Filing Jointly May Double All Exemptions
All references are to 11 USC & 522 |
| ASSET |
EXEMPTION DESCRIPTION |
LAW SECTION |
| Homestead |
Real property, including co-op or mobile home, to $18,450; unused portion of homestead to $9,250 may be applied to any property |
(d)(1) |
| Insurance |
Disability, illness or unemployment benefits
Life insurance payments for persons who depend on debtor, needed for support
Life insurance policy with loan value, in accrued dividends or interest, to $9,850
Unmatured life insurance contract, except credit insurance policy |
(d)(10)(C) (d)11)(C) (d)(8)
(d)(7)
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| MISC. |
Alimony, child support needed for support |
(d)(10(D) |
| PENSIONS |
ERISA-qualified benefits needed for support |
(d)(10)(E) |
| PERSONAL PROPERTY |
Animals, crops, clothing, appliances, books, furnishings, household goods, musical instruments to $425 per item, $9,850 total
Health aids
Jewelry to $1,225
Lost earnings payments
Motor vehicle to $2,925
Personal injury recoveries to $18,450 (not to include pain and suffering or pecuniary loss)Wrongful death recoveries for person debtor depended on |
(d)(3)
(d)(9)
(d)(4)
(d)(11)(E)
(d)(2)
(d)(11)(D)
(d)(11)(B) |
| PUBLIC BENEFITS |
Crime victims' compensation
Public assistance
Social Security
Unemployment compensation
Veterans' benefits
|
(d)(11)(A)
(d)(10)(A)
(d)(10)(A)
(d)(10)(A)
(d)(10)(A)
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| TOOLS OF THE TRADE |
Implements, books & tools of trade to $1,850 |
(d)(6) |
| WAGES |
NONE |
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| WILD CARD |
$925 of any property
Up to $9,250 of unused homestead exemption, for any property |
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