Federal exemptions in bankruptcy include the debtor's interest, not to exceed $123,675 in value, in real property or personal property that the debtor or a dependent of the debtor uses as a residence.

Question

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The amount specified for the federal homestead exemption in bankruptcy is not fixed at $123,675; it is subject to periodic adjustments to reflect changes in the cost of living. As of the most recent adjustment, the actual amount may vary.

Federal Exemptions in Bankruptcy Include the Debtor's Interest, Not to Exceed