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Delaware Bankruptcy
Delaware
Bankruptcy Exemption
Homestead:
Equity in houses used as the principal place of residence is exempted up to the extent of $ 50,000 .
Other Properties:
Property selected by the debtor is scheduled to get exempt up to the extent of $ 25,000 and in case of joint filing each can claim the amount.
Wages:
Exemption up to 85 % of the salaries and wages which doesn’t include the self-employed personnel.
Annuity Contracts:
Proceeds on annuity contracts can be exempted up to $ 350.
Vehicle:
Exemption of $ 15,000 for employment necessity.
Professional Appliances:
Tools and appliances necessary to carry out profession can get exempt up to $ 15,000
Total or Absolute Exemptions for:
Equity in houses used as the principal place of residence is exempted up to the extent of $ 50,000 .
Other Properties:
Property selected by the debtor is scheduled to get exempt up to the extent of $ 25,000 and in case of joint filing each can claim the amount.
Wages:
Exemption up to 85 % of the salaries and wages which doesn’t include the self-employed personnel.
Annuity Contracts:
Proceeds on annuity contracts can be exempted up to $ 350.
Vehicle:
Exemption of $ 15,000 for employment necessity.
Professional Appliances:
Tools and appliances necessary to carry out profession can get exempt up to $ 15,000
Total or Absolute Exemptions for:
- Personal property of the head of the family.
- Sewing machines, apparels, books of school and library.
- Burial plot and seat in place of worship.
- Leased musical instruments.
- Specific interest in partnership property.
- Fraternal and society benefits.
- Workmen's compensation benefits.
- Tenancies by entirety.
- Kent, Sussex employee's pension benefits.
- Unemployment benefits.
- Health and group insurance proceeds.
- Public assistance benefits and blind aids.
- State employees benefit plans.
