Legal Question in Bankruptcy in Georgia
property claimed as excempt in georgia bankruptcy
what would be the specific law providing for an exemption for a 2002 Jeep and what is the allowable exemption amount?
3 Answers from Attorneys
Re: property claimed as excempt in georgia bankruptcy
OCGA�44-13-100(a)(3) provides the exemption. The last time I checked, the amount was $3,000 of equity in an automobile. There is also a general exemption of $5,000 for "any property", unless exemption is claimed for real estate.
Re: property claimed as excempt in georgia bankruptcy
If an individual bankruptcy case is filed, you can exempt up to $3,500 in a vehicle. There is a catch all provision where any household exemption that is no used can be used for any property.
Re: property claimed as excempt in georgia bankruptcy
There are some "ifs ands and buts" but usually the answer is $3500 ($7000 if owned by two debtors).
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