Filing for Florida Chapter 7 Property Exemptions Certain types of secured debt can be exempted from liquidation if the debt is first “reaffirmed” with the creditor and an agreement to preserve the debt in return for timely repayment can be made. In order to reaffirm a debt, the debtor must be current on all payments for the debt. Florida maintains its own set of property eligible for exemption. To use Florida’s Chapter 7 bankruptcy exemptions, you must have domiciled (officially lived) in Florida for the past 730 days, or roughly two years. If you have not lived in Florida for the past two years, then you must use the exemption laws of the state where you were domiciled for the majority of the previous 180 days before the 730-day period. Florida offers generous homestead exemptions, especially to property owners who do not live in a municipality. Under Florida law (Florida Statutes §222.01-02), you can exempt an unlimited amount of home equity as long as your property isn’t larger than a half acre in a municipality or 160 acres outside municipal zones. You can also exempt the following, in most circumstances: * Savings accounts for education, health emergencies, and hurricane disasters * Prescribed health aids, such as hearing aids or assistive devices * Tax credits and refunds (although these may go to back tax debt) * Certain property owned in a partnership (See Florida Statutes §620.153§620.8307) * Personal property up to $1,000 in value * Funeral costs per Florida’s Preneed Funeral Contract Consumer Protection Trust Fund (§497.456) * Up to $1,000 in motor vehicle equity * Up to $750 in wages per week, or 75% of 30 times the federal minimum wage, whichever is greater * Money that comes from child support or alimony If you decline to use the homestead exemption, you have a “wild card” exemption that applies to up to $4,000 in personal property. Certain pensions, public benefits, insurance policy benefits, and annuities may also be exempt. To understand more about your options for exempting certain assets and secured debts, speak with a Florida bankruptcy attorney.


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 […]