|
||
 |
|
|
|
||
|
|
|
| UNITED STATES BANKRUPTCY COURTS | |||||||||
| State Of Michigan | |||||||||
| Exemptions Are Illustrated Below Courts | |||||||||
|
|||||||||
|
|||||||||
|
|||||||||
|
|||||||||
|
|||||||||
|
|||||||||
|
|||||||||
| Court of Appeals Michigan Western District Court |
| Exemptions:
|
| 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. A judgment debtor is generally entitled to a homestead exemption of not exceeding 40 acres of land and the dwelling house and appurtenances on the homestead in the value not exceeding $3,500. (27A.6021(h). Some of the personal property which may be exempt from levy and sale under any execution may include all family pictures, all arms and accouterments required by law to be kept by any person, all wearing apparel of every person or family and fuel for comfortable subsistence of each householder and his or her family for six months; all household goods, furniture, utensils, books and appliances, not exceeding in value of $1,000; a seat, pew or slip occupied by the judgment debtor or his family in any house or place of public worship, and all cemeteries, tombs, and rights of burial while in use as repositories of the dead of the judgment debtor or his family; tools, implements, materials, stock, apparatus, team, vehicle, motor vehicle, horses, harness, or other things to enable a person to carry on the profession, trade, occupation or business not exceeding in value of $1,000; any benefits paid for the disability of the judgment debtor; an individual retirement account or individual retirement annuity as defined in section 408 of the Internal Revenue Code; and the right of the judgment debtor's interest in a pension, profit-sharing, stock bonus, or other plan that is qualified under section 401 of the Internal Revenue Code, or an annuity contract under section 403 of the Internal Revenue Code. (MSA 27a.6021.) |
| Links to Michigan laws, government agencies, and organizations are included here. Always discuss actual cases with your actual legal advisor or legal department. The State Bar of Michigan is linked here. |
Lawdog assumes no responsibility for links away from this site. Copyright © 1996-2000 by LAWDOG.COM Publishing, Inc |
|
