 Utah Bankruptcy Exemptions
A debtor in Utah may generally claim exemption of his homestead and certain personal property from attachment and execution of a judgment, or in a bankruptcy proceeding.
Under the Utah Exemption Act, a person's homestead is exempt from judicial lien and from levy, execution, or forced sale except for statutory liens for property taxes and assessments on the property, security interests in the property and judicial liens for debts created for the purchase price of the property, judicial liens obtained on debts created by failure to provide support or maintenance for dependent children, and consensual liens obtained on debts created by mutual contract. A homestead may consist of a dwelling or mobile home and the land surrounding it, not exceeding one acre, which is being used as his primiary personal residence. The amount of homestead exemption an individual may claim can not exceed $10,000 in value. If the property claimed as exempt is jointly owned, each joint owner is entitled to a homestead exemption but the maximum exemption may not exceed $20,000.
Personal property which may be exempt under the Utah Exemption Act may include those that are exempt without value limitation, exempt to the extent necessary for the support of the debtor, and exempt as to a limited value.
Property that is exempt without value limitation may include:
- a burial plot
- health aids reasonably necessary to enable the individual or a dependent to work or sustain health
- benefits the individual or his dependent have received or are entitled to receive because of disability, illness, or unemployment
- benefits paid or payable for medical, surgical, or hospital care to the extent they are used by an individual or his dependent to pay for that care
- veterans benefits
- money or property received, and rights to receive money or property for child support
- one clothes washer and dryer
- one refrigerator
- one freezer
- one stove
- one microwave oven
- one sewing machine
- all carpets in use
- provisions sufficient for 12 months actually provided for individual or family use
- all wearing apparel not including jewelry or furs
- all beds and bedding
- works of art depicting the debtor or the debtor and his resident family or produced by the debtor or the debtor and his resident family, except works of art held by the debtor as part of a trade or business
- proceeds of insurance, a judgment, or a settlement, or other rights accruing as a result of bodily injury of the individual or of the wrongful death or bodily injury of another individual of whom the individual was or is a dependent to the extent that those proceeds are compensatory
- retirement plans qualified under Section 401(a), 401(h), 401(k), 403(a), 403(b), 408, 409, 414(d), or 414(e) of the United States Internal Revenue Code of 1986, as amended
Personal property which may be exempt to the extent necessary for the support of a debtor and his dependents may include money or property received, and rights to receive money or property for alimony or separate maintenance, proceeds or benefits paid or payable on the death of an insured, if the individual was the spouse or a dependent of the insured, and assets held, payments, and amounts payable under a stock bonus, pension, profit-sharing, annuity, or similar plan providing benefits other than by reason of illness or disability.
Personal property which are exempt as to a limited value may include:
- sofas, chairs, and related furnishings reasonably necessary for one household up to an aggregate value of $500.00
- dining and kitchen tables and chairs reasonably necessary for one household up to an aggregate value of $500.00
- animals, books, and musical instruments, if reasonably held for the personal use of the individual or his dependents up to an aggregate value of $500.00
- heirlooms or other items of particular sentimental value to the individual up to an aggregate value of $500.00
- implements, professional books or tools of trade not exceeding $3,500 in aggregate value
- one motor vehicle where such motor vehicle is used for the claimant's business or profession and not exceeding $2,500 in value
In a bankruptcy proceeding, residents of the State of Utah are not permitted to claim exemption of those property specified in Subsection (d) of Section 522 of the Bankruptcy Reform Act.
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