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
| ASSET | EXEMPTION | LAW |
|---|---|---|
| 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) | |
| Wildcard | None |
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.
Back to all State Bankruptcy Exemptions
Go to Complete State of Texas bankruptcy exemptions laws.
Go to Federal Bankruptcy Exemptions
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