| Attention: All 94-bankruptcy
districts charge the same filing fees. Chapter 7: $299 Chapter 13: $274 |
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IOWA EXEMPTION LISTHow to use this table of exemptions, by Attorney Thomas A. Prediletto. The following is a summary of the Iowa exemptions that can be claimed (used) to exempt both your real and personal property in a bankruptcy petition. However, if your residence has not been continuously in the state of Iowa for the two years prior to filing a bankruptcy petition, there are laws that apply as to which state or federal exemptions may be used. Exempt property of a debtor is property of the debtor that is not available to be used (sold) to pay his/her unsecured creditors and is not subject to the claims of unsecured creditors, but may be subject to the rights of secured creditors and lien holders. When reviewing the list for exemptions for your own property you should be aware that there may not be a “matching” exemption. Some state exemptions contain a “wildcard” which can be used if a matching exemption cannot be found in the list of exemptions. Also, an individual must own an interest in the property to claim the property as exempt. The debtor may exempt the equity (value of property less the total amount owed against it) however; any equity value in the property above the exemption amount may be subject to the claims of unsecured creditors. By way of example, if you own a home worth $250,000 and owe a total of $200,000 against it (combining all mortgage/home equity lines of credit and/or liens against the property) the amount of equity you would need to protect is $50,000. So long as the homestead exemption is more than $50,000 the full amount of the equity is exempt and not subject to the claims of your unsecured creditors. In the alternative, say the home is worth $250,000 and you only owe $100,000 against it, anything over the exemption amount is subject to the claims of the unsecured creditors. The same type example would apply to a motor vehicle, though the exemption for a motor vehicle is less than the amount of the exemption for a home. Please note that all of the exemptions may be doubled if a married couple is filing, with the exception of the homestead exemption. |
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| Description | LAW |
Max Individual Amount |
Max Joint Amount |
| Aid to dependent children | Iowa Code § 239B.6 | UNLIMITED | |
| Alimony, support or maintenance: amt. | Iowa Code § 627.6(8)(d) | UNLIMITED | |
| Apartment used as principal residence | Iowa Code § 499A.18 | UNLIMITED | |
| Assistance for adopted homeless children | Iowa Code § 627.19 | UNLIMITED | |
| Books, Bibles, pictures, portraits | Iowa Code § 627.6(3) | $1,000.00 | $1,000.00 |
| Burial plot-1 acre | Iowa Code § 627.6(4) | UNLIMITED | |
| Cash on hand, bank deposits etc. | Iowa Code § 627.6(14) | $1,000.00 | $1,000.00 |
| Debtor engaged in farming the agricultural land | Iowa Code § 627.6(13) | UNLIMITED | |
| Deposits - rent, utility, etc. | Iowa Code § 627.6(15) | $500.00 | $500.00 |
| Disability/illness benefit | Iowa Code § 627.6(8)(c ) | UNLIMITED | |
| Disposable earnings: varying amounts: | Iowa Code §§ 642.21, 537.5105 | UNLIMITED | |
| Farm implements, livestock and feed | Iowa Code § 627.6(12) | $10,000.00 | $10,000.00 |
| Firearms: 1 shotgun, 1 musket or 1 rifle | Iowa Code § 627.6(2) | UNLIMITED | |
| Fraternal benefit society benefits | Iowa Code § 633.333 | UNLIMITED | |
| Group insurance benefits | Iowa Code §§ 509.12, 509A.9 | UNLIMITED | |
| Health or disability insurance | Iowa Code § 627.6(6) | $15,000.00 | $15,000.00 |
| Homestead bought with pension benefits or proceeds of sale | Iowa Code § 627.9 | UNLIMITED | |
| Homestead: one half acre in town or 40 acres | Iowa Code §§ 561.2, 561.16,499A, 18 | UNLIMITED | |
| Household goods & furniture, wearing apparel & recept., music instruments, appliances | Iowa Code § 627.6(5) | $7,000.00 | $7,000.00 |
| Interest in accrued wages and tax refunds | Iowa Code § 627.6(10) | $1,000.00 | $1,000.00 |
| Jewelry | Iowa Code § 627.6(1)(b) | $2,000.00 | $2,000.00 |
| Life insurance proceeds | Iowa Code §§ 627.6(6), 508.32 | $10,000.00 | $10,000.00 |
| Liquor license | Iowa Code § 123.38 | UNLIMITED | |
| National guard and state guard equipment | Iowa Code §§ 29A.41, 29A.70 | UNLIMITED | |
| One Automobile | Iowa Code § 627.6(9) | $7,000.00 | $7,000.00 |
| Pension or annuity plans | Iowa Code § 627.6(8)(e) & (f) | UNLIMITED | |
| Pension-police and firemen | Iowa Code §§ 410.11, 411.13 | UNLIMITED | |
| Professionally prescribed health aids | Iowa Code § 627.6(7) | UNLIMITED | |
| Public property - 100% | Iowa Code § 627.18 | UNLIMITED | |
| Retirement benefits - public employees | Iowa Code § 97B.39 | UNLIMITED | |
| Retirement, accident and disability | Iowa Code § 97A.12 | UNLIMITED | |
| Soc. sec., unemployment, public assistance, AFDC | Iowa Code § 627.6(8)(a) | UNLIMITED | |
| Specific partnership property | Iowa Code § 486A.203 | UNLIMITED | |
| Support payments - wrongful death | Iowa Code § 627.6(16) | UNLIMITED | |
| Tools of trade for non-farmer | Iowa Code § 627.6(11) | $10,000.00 | $10,000.00 |
| U.S. pension benefits | Iowa Code § 627.8 | UNLIMITED | |
| Unemployment benefits Iowa Code §§ 96.15, 627.6(8)(a) |
Iowa Code §§ 96.15, 627.6(8)(a) | UNLIMITED | |
| Veteran's benefits | Iowa Code § 627.6(8)(b) | UNLIMITED | |
| Wedding and engagement rings | Iowa Code § 627.6(1)(a) | UNLIMITED | |
| Worker's compensation | Iowa Code § 627.13 | UNLIMITED |
