| In general, a debtor may claim exemption of his homestead and non-exempt personal
property from attachment or execution of a judgment, or in a bankruptcy proceeding. Any
person may claim exemption of his or her homestead from forced sale under any process of
law by recording a written statement containing a description of the real property, mobile
home, or modular home claimed to be exempt and declaring that the real property, mobile
home, or modular home is the homestead of the party in whose behalf such claim is being
made, with the Circuit Court , (Section 222.01.)
Certain personal property is allowed by law or by the State Constitution to be
exempt from levy and sale, the debtor may claim such personal property to be exempt from
sale by making, within 15 days after the date of the levy, an inventory of his or her
personal property. (Section 222.061.) Personal property which may be exempt include
certain portion of wages (Section 222.11), life insurance policies (Section 222.13),
annuity contract (Section 222.14), unemployment compensation benefits (Section 222.15),
disability benefits (Section 222.18), pension and retirement funds (Section 222.21), motor
vehicle up to a value of $1,000 and interest in any professionally prescribed health aids
for the debtor or a dependent of the debtor (Section 222.25).
Section 55.146 of the Florida Statutes further provide that all property of a
judgment debtor where the judgment is in favor of any state for failure to pay that
state's income tax on benefits received from a pension or other retirement plan is exempt
from forced sale under process of any court, and no such judgment or execution based
thereon shall be a lien on such property.
In accordance with the provision of s. 522(b) of the Bankruptcy Code of 1978 (11 U.S.C.
s. 522(b)), residents of this state shall not be entitled to the federal exemptions
provided in s. 522(d) of the Bankruptcy Code of 1978 (11 U.S.C. s. 522(d)). (Section
222.20.) However, an individual debtor under the federal Bankruptcy Reform Act of
1978 may exempt, in addition to any other exemptions allowed under state law, any property
listed in subsection (d)(10) of s. 522 of that act. (Section 222.201.) |
