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Question: Bankruptcy - Wisconsin

Asked on 10/24/2009

If I sell my house and file Chapter 7 afterwards, does the $40,000 exemption still apply?


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That depends on which state's exemptions laws apply to your case.  Some states (such as California) allow the exemption to apply after sale of a house if you buy a replacement house within a certain period of time after.   To see more on which state's exemption laws would apply to your case, visit http://www.bklaw.com/exemptions.html or have a consultation with a bankruptcy lawyer in your area.



  • Answered on 11/12/2009
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