A debtor's homestead exemption is limited to $146,450 if the homestead was acquired by the debtor within 1,215 days prior to the bankruptcy filing, unless the previous homestead was located in the same state.

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This statement is true according to the federal bankruptcy law. If a debtor acquires a homestead within 1,215 days (3.3 years) before filing for bankruptcy, the homestead exemption is limited to $146,450. However, if the debtor had a previous homestead in the same state, the exemption may be higher. These limits and rules may vary by state law as well.

A Debtor's Homestead Exemption Is Limited to $146,450 If the Homestead