| In general, a debtor may claim exemption of his homestead and certain personal
property from attachment and execution of a judgment, or in a bankruptcy proceeding. The
land and building which is owned, occupied or intended to be occupied by an individual as
his principal residence is generally exempt from levy on execution and sale for payment of
debts to the extent of $100,000.00. (c. 188, s. 1.) Any person who is 62 years
of age or older, and has filed an elderly or disabled person's declaration of homestead,
may be entitled to a homestead exemption on the real property or manufacturued home which
he uses, occupies, and intends to use and occupy as his principal residence to the extent
of $200,000.00. (c. 188, s. 1A.)
Personal property of a judgment debtor which may be exempt from levy on seizure on
execution of a judgment may include necessary wearing apparel, beds and bedding,
one heating unit used for warming the dwelling house, and the amount each month,
not exceeding $75.00, reasonably necessary to pay for fuel, heat, water, hot water and
light for himself and his family; household furniture not exceeding $300.00 in value;
bibles, school books and library not exceeding $200.00 in value; two cows, twelve sheep,
two swine, and four tons of hay; tools, implements and fixtures for trade or business not
exceeding $500.00 in value; materials and stock designed and procured by him and necessary
for carrying on his trade or business, and intended to be used or wrought therein, not
exceeding $500.00 in value; provisions intended for family use or money therefor not
exceeding $300.00 in value; fishing tackle and nets of fisherman actually used in his
business not exceeding $500.00 in value; uniform of an officer or soldier in the
militia and the arms and accoutrements required by law to be kept by him; rights of
burial and tombs in use as repositories for the dead; one sewing machine not exceeding
$200.00 in value; share in co-operative associates not exceeding $100.00 in value in the
aggregate; money for payment of rental not exceeding $200.00 per month for each rental
period; cash, savings or other deposits in a banking institution, or money owed to him
each pay period as wages for personal labor or services, or any combination of such cash,
deposits or money owing, not exceeding $125.00; public assistance; one automobile not
exceeding $700 in value. (c. 235, s. 34.) See M.G.L. - Chapter 235, Section 34 |
