If you’re filing for bankruptcy in the state of Georgia, you may qualify for a homestead exemption. While every case is different, it’s important that you know about exemptions like these should they apply to your individual situation. The experienced bankruptcy attorneys at the Law Office of Tipton-Downie want you to have as much protection and security for your property as possible. Here’s what our lawyers in Vidalia, GA want you to know about homestead exemptions in the Georgia bankruptcy courts:
- Georgia homestead exemptions – According to Georgia’s bankruptcy code, you could be granted one or more of these exemptions for your bankruptcy case:
- An exemption of $21,500 for any property you use as a residence.
- An exemption of $43,000 if the property you use as a residence is only in the name of one spouse.
- An unused homestead exemption of $10,000 may be used toward any other property.
Of course, all of these exemptions depend on your current living situation and other important facts of your case. While you can file for bankruptcy without an attorney, working with a bankruptcy attorney is the best way to find out which exemptions you may be entitled to.
Do you want to learn more about the homestead exemption for bankruptcy cases in Georgia? Call the Law Office of Tipton-Downie to talk to one of our expert bankruptcy lawyers in Vidalia, GA today. We’ll take a look at your bankruptcy case and offer you the best advice possible.