New Hampshire Bankruptcy Laws : New Hampshire State Exemptions
Complete state of New Hampshire bankruptcy exemptions laws which protect a debtor’s property when personal bankruptcy is filed.
Every person is entitled to $100,000 worth of his or her homestead, or of his or her interest therein, as a homestead. The homestead right created by this chapter shall exist in manufactured housing, as defined by RSA 674:31, which is owned and occupied as a dwelling by the same person but shall not exist in the land upon which the manufactured housing is situated if that land is not also owned by the owner of the manufactured housing.
I. The wearing apparel necessary for the use of the debtor and the debtor’s family.
II. Comfortable beds, bedsteads and bedding necessary for the debtor, the debtor’s spouse and children.
III. Household furniture to the value of $3,500.
IV. One cook stove, one heating stove and one refrigerator and necessary utensils belonging to the same.
V. One sewing machine, kept for use by the debtor or the debtor’s family.
VI. Provisions and fuel to the value of $400.
VII. The uniform, arms and equipments of every officer and private in the militia.
VIII. The Bibles, school books and library of any debtor, used by the debtor or the debtor’s family, to the value of $800.
IX. Tools of the debtor’s occupation to the value of $5,000.
X. One hog and one pig, and the pork of the same when slaughtered.
XI. Six sheep and the fleeces of the same.
XII. One cow; a yoke of oxen or a horse, when required for farming or teaming purposes or other actual use; and hay not exceeding 4 tons.
XIII. Domestic fowls not exceeding $300 in value.
XIV. The debtor’s interest in one pew in any meetinghouse in which the debtor or the debtor’s family usually worship.
XV. The debtor’s interest in one lot or right of burial in any cemetery.
XVI. One automobile to the value of $4,000.
XVII. Jewelry owned by the debtor or the debtor’s family to the value of $500.
XVIII. The debtor’s interest in any property, not to exceed $1,000 in value, plus up to $7,000 of any unused amount of the exemptions provided under paragraphs III, VI, VIII, IX, XVI, and XVII of this section.
XIX. Subject to the Uniform Fraudulent Transfer Act, RSA 545-A, any interest in a retirement plan or arrangement qualified for tax exemption purposes under present or future acts of Congress; provided, any transfer or rollover contribution between retirement plans shall not be deemed a transfer which is fraudulent as to a creditor under the Uniform Fraudulent Transfer Act. “”Retirement plan or arrangement qualified for tax exemption purposes” shall include without limitation, trusts, custodial accounts, insurance, annuity contracts, and other properties and rights constituting a part thereof. By way of example and not by limitation, retirement plans or arrangements qualified for tax exemption purposes permitted under present acts of Congress include defined contribution plans and defined benefit plans as defined under the Internal Revenue Code (IRC), individual retirement accounts including Roth IRAs and education IRAs, individual retirement annuities, simplified employee pension plans, Keogh plans, IRC section 403(a) annuity plans, IRC section 403(b) annuities, and eligible state deferred compensation plans governed under IRC section 457. This paragraph shall be in addition to and not a limitation of any other provision of New Hampshire law which grants an exemption from attachment or execution and every other species of forced sale for the payment of debts. This paragraph shall be effective for retirement plans and arrangements in existence on, or created after January 1, 1999, but shall apply only to extensions of credit made, and debts arising, after January 1, 1999.
I. Wages for labor performed by the defendant after the service of the writ upon the trustee.
II. Except as otherwise provided in paragraph X of this section, wages of the defendant earned before the service of the writ upon the trustee shall be exempt except in actions founded upon a debt on a judgment issued by a New Hampshire court of competent jurisdiction. In such case, the wages of the defendant earned before the service of a writ upon the trustee founded upon a debt on a judgment to the amount of 50 times the minimum hourly wage as established by the Fair Labor Standards Act for each week shall be exempt. The employer shall pay said exempted amount to the employee on the usual payday unless other cause exists prohibiting such payment.
III. Wages for the personal services and earnings of the wife and minor children of the defendant.
IV. Any pension or bounty money of the defendant allowed by any law of the United States before it has come into his actual possession.
V. Funds held by the trustee in the capacity of clerk, cashier, or other employee of the defendant which were received in the ordinary course of such employment.
VI. Fees due to the defendant for attendance at court as a juror or witness.
VII. Damages recovered for the conversion of property exempt from attachment.
VIII. Money, rights, and credits of the defendant in the hands of any insurance company or its agents whenever the same is due on account of the loss of, or damage by fire to, any property which by the laws of this state was exempt from attachment or levy on execution; provided, that whenever a building or structure so damaged or destroyed was a part of the homestead, only so much of the amount due therefor shall be exempt as, together with the value of the part of the homestead remaining, if any, shall equal the sum of $5,000.
IX. Wages of the defendant earned before the service of the writ upon the trustee, to the amount of $50 for each week, shall be exempt in any action founded upon any loan contract subject to the provisions of RSA 399-A.
X. Wages of the defendant earned before service of the writ upon the trustee if the defendant is a married woman and the action is founded upon any loan contract subject to the provisions of RSA 399-A on which her husband is or was at any time an obligor, jointly or severally, contingently or otherwise.
XI. Money, rights, and credits of the defendant deposited in any account designated as a payroll account.
The right of a person to any benefit or to any other right accrued or accruing to any person under the provisions of this chapter, and the monies in the funds created hereby, shall be exempted from any state, county or municipal tax in the state, and shall not be subject to execution, trustee process, attachment or any other process whatsoever, legal or equitable, and shall be unassignable except as herein specifically provided.
The payments made by permanent firemen to the retirement board and the benefits or compensation received hereunder shall be exempt from taxation, attachment, and the operation of laws relating to insolvency or bankruptcy. No assignment of compensation due under this chapter shall be valid unless approved by the board.
The payments made by permanent policemen to the board and the benefits or compensation received hereunder shall be exempt from taxation, attachment, and the operation of laws relating to insolvency or bankruptcy. No assignment of benefits or compensation due hereunder shall be valid unless approved by the board.
All assistance given hereunder shall be inalienable by any assignment or transfer and shall be exempt from levy or execution under the laws of this state.
I. Claims for compensation under this chapter shall not be assignable, and the compensation and any claim for compensation shall be exempt from all claims of creditors except as provided in this section. Claims for payment by physicians, hospitals, and for other remedial care chargeable to the employee and rendered in connection with a compensated injury and claims of attorneys for services rendered an employee in prosecuting a claim under this chapter, when approved by the superior court, may be enforced against the compensation award in such manner as the superior court may direct.
II. Claims for child support payments, pursuant to RSA 458-B, may be enforced against compensation awards.
282-A:159 Assignment or Attachment of Benefits; Child Support Obligations; Overissuance of Food Stamp Coupons; Income Tax Withholding. (Unemployment Compensation)
I. Any assignment, pledge, or encumbrance of any right to benefits which are or may become due or payable under this chapter shall be void. Such rights to benefits shall be exempt from levy, execution, attachment, or any other remedy whatsoever provided for the collection of debt or taxes. Benefits received by any individual, so long as they are not mingled with other funds of the recipient, shall be exempt from any remedy whatsoever for the collection of all debts except debts incurred for necessaries furnished to such individual or such individual’s spouse or dependents during the time when such individual was unemployed. Any waiver of any exemption provided for in this section shall be void except for child support obligations and food stamp overissuances as provided in RSA 282-A:31 and this section and, if the individual so elects, withholding of federal income tax under rules adopted by the commissioner. II. The commissioner is authorized to pay a portion or all of the unemployment compensation otherwise payable to a claimant to any agency of the state or its political subdivisions which enforces child support obligations. The amount so paid shall be deemed to be paid to the claimant. No such payment shall be made hereunder unless the New Hampshire department of health and human services or another New Hampshire governmental agency:
(b) Pays monthly, in advance, to the department of employment security administration costs as determined by the commissioner.
III. The commissioner may, if it is in the best interest of the state, enter into agreements to pay to a state or the federal government a portion or all of the unemployment compensation otherwise payable to a claimant if unemployment compensation benefits have been found overpaid under such state or federal unemployment compensation law.
(a) The commissioner is authorized to adopt rules under RSA 541-A and enter into an agreement with the department of health and human services to pay a portion or all of the unemployment compensation payable to an individual consistent with section 303(d)(1) and (2) of the Social Security Act and section 13(b)(1) of the Food Stamp Act of 1977, to notify the department of health and human services that an individual with an overissuance of food stamp coupons has applied for unemployment compensation, and to withhold and deduct unemployment compensation otherwise payable in amounts consistent with the federal law and this paragraph. Amounts so withheld shall be deemed to have been paid to the claimant.
(b) No such deduction or payment shall be made under this paragraph unless the department of health and human services:
(2) Pays monthly, in advance, the department of employment security’s administrative costs as provided for in the agreement.
304-A:25 Nature of a Partner’s Right in Specific Partnership Property.
I. A partner is co-owner with his partners of specific partnership property holding as a tenant in partnership.
II. The incidents of this tenancy are such that:
(b) A partner’s right in specific partnership property is not assignable except in connection with the assignment of rights of all the partners in the same property.
(c) A partner’s right in specific partnership property is not subject to attachment, trustee process or execution, except on a claim against the partnership. When partnership property is attached for a partnership debt, the partners, or any of them, or the representatives of a deceased partner, cannot claim any right under the homestead or exemption laws.
(d) On the death of a partner, his right in specific partnership property vests in the surviving partner or partners, except where the deceased was the last surviving partner, when his right in such property vests in his legal representative. Such surviving partner or partners, or the legal representative of the last surviving partner, has no right to possess the partnership property for any but a partnership purpose.
(e) A partner’s right in specific partnership property is not subject to a distributive share, or allowance to widows, heirs, or next of kin.
The money due a fireman, or in case of his death his parents, widow or children, by reason of any rule or bylaw of said association, shall be exempt from attachment or trustee process
No money or other benefit, charity, relief or aid to be paid, provided or rendered by any society, shall be liable to attachment, garnishment or other process, or to be seized, taken, appropriated or applied by any legal or equitable process or operation of law to pay any debt or liability of a member or beneficiary, or any other person who may have a right thereunder, either before or after payment by the society; provided, however, that this section shall not apply to loans or other obligations owing to the society from the member or his or her benefactory.
Note: While this reference information is current as of August 2010, it may not reflect the most up-to-date exemption figures on official state of New Hampshire State bankruptcy court statutes.