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Tennessee Bankruptcy
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Tennessee Bankruptcy Exemption
Homestead:
Home or principal place of residence used as by the debtor or his/her dependent use as the principal place of residence. Up to the quantum of $ 5,000 for individual debtor and $ 7,500 if jointly owned and both debtor are involved in the proceeding. Insurance proceeds from destroyed exempt homestead up the extent of $ 5,000. Note: In case of joint ownership must be divided equally. Exemption also applies to life estates, equitable estates and leasehold estates. Personal Property: Personal property of state residents (including cash and bank deposits) exempted up to the extent of $ 4,000. Wages: Greater among 75 % or 30 times the federal minimum hourly wage per week and $ 2.50 per each week for each dependent child of the debtor under the age of 16 years. Crime Victim's compensation awards: Award as reparation is exempted up to the extent of $ 5,000. Personal Injury: Personal Injury payments to debtor or individual of whom debtor is dependent up to the extent of $ 7,000. Wrongful Death: Payments due to wrongful death of the debtor or individual of whom the debtor was dependent up to the extent of $ 10,000. Compensation: Compensation for loss of future earnings of debtor or individual of whom the debtor is a dependent shall get exempted up to the amount reasonably necessary for sustenance of debtor and dependent. Professional Books and Implements: Books and tools required to carry on trade or profession are exempted up to the extent of $ 1,900. Total or Absolute Exemptions for:
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