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Iowa Bankruptcy
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Iowa Bankruptcy Exemption
Homestead:
The homestead of any person (persons living together as a single household unit may claim exemption once in the aggregate). 1/2 acre including dwelling house and accessories if within urban/municipality plot otherwise 40 acres including dwelling house and appurtenances.
Residential rent: Residential rent or utility deposits or advance residential rent payments exempted up to the extent of $ 500. Bank deposits: Bank deposits or other residential properties are exempted up to $ 100. Household goods: Household goods and furniture, any personal property held primarily for the debtor himself/herself or any dependent up to the extent of $ 2,000. Wages: Disposable earnings: 75% or 40 times the federal minimum hourly wage per week whichever is greater are exempted. Wearing apparels: Wearing apparels of debtor and dependents and receptacles containing same are exempted up to the extent of $ 1,000. Professional tools of non farmer: Equipment, inventory, products and professional books used in business of debtor or dependent exempted up to the extent of $ 10,000. Professional tools of farmer: Equipment, livestock and livestock feed, farm products of debtor or dependent exempted up to the extent of $ 10,000. Life insurance: Debtor's aggregate interest in accrued dividends, loan value on unmatured life insurance contracts owned by the debtor and insuring the debtor or his/her dependent up to the extent of $ 2,000. Insurance: Avails of debtor's life, accident, health or disability insurance are exempted up to the extent of $ 15,000. Total or Absolute Exemptions for:
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