Minnesota Bankruptcy Exemption Information
Bankruptcy trustees are responsible for the assessment of debtors' assets in a bankruptcy case, the purpose being to identify any property that qualifies for liquidation. Since the guidelines differ from state to state, we have compiled a quick reference page that delineates the most commonly claimed Minnesota bankruptcy exemptions.
Homestead
$200,000 homestead exemption ($500,000 if the homestead is used primarily
for agricultural purposes).
Wages
75 percent of gross earnings are exempt.
Automobiles
One motor vehicle not exceeding $2,000; or one motor vehicle not
exceeding $20,000 that has been modified, at a cost of not less than $1,500,
to accommodate a physical disability.
Other Property
Bible and musical instruments; pew and burial lot; all clothing and one watch;
utensils and food; and household appliances, phonographs, radio and television
receivers of the debtor and the debtor's family, not exceeding $4,500 in
value.
Note: Exemptions may have changed since our last update.
» Read the complete Minnesota bankruptcy
exemptions here
» Click Here to read the Federal bankruptcy
exemptions.
» Back to Bankruptcy Laws In Your State