In bankruptcy, the Florida homestead exemption allows a primary residence of unlimited value to be protected from creditors as long as the debtor has lived in Florida for 40 months or more, and the property is not larger than half an acre in a municipality or 160 acres elsewhere.

Florida Bankruptcy Exemptions

The top 5 exemptions under Florida state law.

Type of exemption

Florida law

Type of exemption

Florida law

Homestead

Unlimited (when meeting length of ownership requirement), but property must be no larger than half an acre in a municipality or 160 acres elsewhere

Personal property

Up to $1,000, including furniture, art, and electronics; can claim up to $4,000 if not using homestead exemption

Vehicle

Up to $1,000; more if married and filing jointly

Wages

Head of family fully exempt up to $750 per week, paid and unpaid during the last 6 months

Pension/retirement

401(k)’s exempt; IRA’s and Roth IRA’s exempt up to $1,171,650