Each state permits a debtor in bankruptcy to retain the family home in order to preserve some equity to pay any debts that are discharged.

Question

Quizplus · Accepted Answer

Bankruptcy exemptions, including those related to retaining a family home, vary significantly by state. Some states allow debtors to keep their home under certain conditions (homestead exemption), while others have more limited or no such provisions.

Each State Permits a Debtor in Bankruptcy to Retain the Family