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DE SB204
Bill
Status
5/14/2014
Primary Sponsor
Karen Peterson
Click for details
AI Summary
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Removes the 2012 time limitation on homestead exemptions for real property and manufactured homes used as principal residences in federal bankruptcy and state insolvency proceedings.
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Sets permanent exemption amounts of $125,000 for all debtors, replacing the previous graduated schedule of $75,000 (2010), $100,000 (2011), and $125,000 (2012).
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Maintains the existing $125,000 exemption amount that was already in effect for persons totally disabled from working or married couples where at least one spouse is 65 years old or older.
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Applies to individual debtors and their spouses domiciled in Delaware in addition to other exemptions under state law.
Legislative Description
An Act To Amend Title 10 Of The Delaware Code Relating To Exemptions For Real Property In Federal Bankruptcy And State Insolvency Proceedings.
Last Action
Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House
5/29/2014