Texas Bankruptcy Exemptions
The chart below contains a summary of Texas state bankruptcy exemptions and other relevant statutory laws.
Click here for complete State of Texas bankruptcy exemptions laws.
Note: Federal bankruptcy exemptions are available.
Click here for Federal Bankruptcy Exemptions
Personal exemptions allowed by Texas Bankruptcy Law
Note: Under the 2005 bankruptcy law, almost all types of tax-exempt retirement accounts are exempt in bankruptcy whether state or Federal exemptions are used. Exemptions for 401(k)s, 403(b)s, profit-sharing and money purchase plans, and defined benefit plans include the entire account amounts. However, with traditional and Roth IRAs, the exemption is limited to a total value of $1,171,650 per person for all accounts held by the debtor (not per account). The total value amount is adjusted every three years for inflation. The relevant statutes: 11 U.S.C. §522(d)(12) for Federal bankruptcy exemptions; 11 U.S.C. §522(b)(3)(C) for state bankruptcy exemptions
|Texas Homestead||Unlimited (property cannot exceed 10 acres in town, village, city or 100 acres elsewhere; 200 acres for families)||Prop. 41.001; 41.002|
|Wages||Earned but unpaid wages||Prop. 42.001(b)(1)|
|Automobile||1 per family member||Prop. 42.002(a)(9)|
|Other property||Life, health, accident, or annuity benefits||Ins. 1108.051|
|Alimony and child support||Prop. 42.001(b)(3)|
|Home furnishings, including family heirlooms||Prop. 42.002(a)(1)|
|Clothing and food||Prop. 42.002(a)(2), (5)|
|Burial plots||Prop. 41.001|
|Tools, equipment, and books used in trade||Prop. 42.002(a)(4)|
Note: While this reference information is current as of October 2010, it may not reflect the most up-to-date exemption figures on official state of Texas bankruptcy court statutes.
Texas Bankruptcy Court links :
- United States Bankruptcy Court – Northern District of Texas (TXNB)
- United States Bankruptcy Court – Southern District of Texas (TXS)
- United States Bankruptcy Court – Eastern District of Texas (TXEB)
- United States Bankruptcy Court – Western District of Texas (TXWB)