48. What property is exempt?

California law provides for two separate schedules to determine exempt property. Figuring out what property is protected depends on the exemption scheme you choose. Determining what property is exempt requires a complete understanding of these exemption laws and laws regarding residency.

The following is a partial list of property exempt from being seized and sold pursuant to the enforcement of a judgment or bankruptcy liquidation:

Property Value or equity
Personal residence $75,000 + homestead exemption
Single motor vehicle $3,300
Jewelry, heirlooms, art $6,750
Personal Property used in business$6,750 or $13,475 if jointly owned with spouse
Personal Injury award $20,725
Life insurance loan value etc. $11,075

There are multiple statutes with conflicting dollar amounts that overlap, so it is important to seek legal advice regarding property that may be exempt.

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California Bankruptcy Exemptions