Asked in Bankruptcy for Georgia

Q: In chapter 7 can one exempt his primary residence ?

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1 Lawyer Answer
Justin M. Gillman
Justin M. Gillman
  • Bankruptcy Lawyer
  • Edison, NJ

A: First, you should consult with an attorney as questions of exemptions and assets often are very fact sensitive and can be complicated when it comes to all of a filing debtor's assets. Georgia, I believe, does not recognize the federal exemptions and therefore you would be limited to state law exemptions which MAY allow you to protect up to a certain amount of equity in the property. There are significant requirements to be able to claim this protection so, as I stated, the best route is to immediate review with an experienced attorney.

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