Utah Bankruptcy Exemptions
The chart below contains a summary of Utah state bankruptcy exemptions and other relevant statutory laws.
Click here for complete State of Utah bankruptcy exemptions laws.
Note: Federal bankruptcy exemptions are not available.
Personal exemptions allowed by Utah 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 |
|---|---|---|
| Utah Homestead | Real property, mobile home, water rights to $20,000 for debtor’s primary residence; $5,000 if not debtor’s primary residence | 78B-5-503(1), (2), (4) |
| Wages | Minimum 75% of disposable weekly earnings or 30 times the Federal hourly minimum wage (whichever is greater). Bankruptcy judge may authorize more for low-income debtors. | 70C-7-103 |
| Automobile | Up to $2,500 | 78B-5-506(3) |
| Other property | Disability, illness, medical, or hospital benefits | 78B-5-505(1)(a)(iii) |
| Alimony (needed for support) and child support | 78B-5-505(1)(a)(vi), (f), (k) | |
| Bed, bedding, carpets | 78B-5-505(1)(a)(viii) | |
| Refrigerator, freezer, microwave, stove, sewing machine, washer and dryer | 78B-5-505(1)(a)(viii) | |
| Burial plot | 78B-5-505(1)(a)(i) | |
| Implements, books, and tools of trade to $3,500 | 78B-5-506(2) | |
| 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 Utah bankruptcy court statutes.
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