New Mexico Bankruptcy Laws

Homestead

The principle place of residence of the up to the extent of $ 30,000. Joint owners may double it. Exemption in lieu of homestead is exempted up to the extent of $ 2000.

Wages

The greater among 75% or 40 times the federal minimum hourly wage per week.

Professional tools

Equipment, inventory, farm products and professional books used in business of debtor or dependent exempted up to the extent of $ 1,500.

Household goods

Household goods and furniture, wearing apparels, books are exempted up to the extent of 100 %.

Personal property

Personal property other than cash exempted up to $ 500.

Jewelry

Personal jewelry exempted up to the extent of $ 2,500.

Automobile

Motor vehicle up to the extent of $ 4,000.

Personal property

Personal property of any kind including cash is exempted up to the extent of $ 500.

Total or Absolute Exemptions for