Justin filed a Chapter 7 bankruptcy petition in which he exempted his home,valued at $123,000.Justin can keep his entire home from all creditors if:

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Justin can keep his entire home from all creditors if he lives in a state that allows an exemption amount of at least $123,000, he has lived in that state for at least two years prior to filing for bankruptcy, and there are no secured creditors with perfected liens against the home. This is because exemption amounts vary by state, and the exemption amount is only applicable if Justin has met the residency requirement and there are no secured creditors with perfected liens against the home. Claiming exemptions under the federal Bankruptcy Code (choice A) is not relevant in this scenario as Justin's exemption is determined by the state where he resides. Similarly, living in a state that allows an exemption amount of at least $123,000 (choice B) is not enough as Justin also needs to meet the residency requirement and have no liens against his home.

Justin Filed a Chapter 7 Bankruptcy Petition in Which He