Maryland Bankruptcy Exemptions

This list of exemptions updated August 2007. All law references are to Maryland Code of Courts & Judicial Proceedings unless otherwise noted. Federal bankruptcy exemptions are not available in Maryland.

Homestead

there are no homestead exemptions. However, tenancies by the entirety to unlimited amount as to debts of one spouse [In re Sefren, 41 B.R. 747 (D. Md. 1984)]. Also see the section below on "Personal Property."

Personal Property

Bus. Reg. 5-503 - Burial plot.

Bus. Reg. 5-602 - Perpetual care trust funds.

11-504 - Clothing, household goods, furnishings, appliances, books, and pets up to $1,000 total; health aids; cash or property up to $6,000 if claimed within 30 days of attachment or levy; lost future earnings recoveries; and any other real or per¬sonal property up to $5,000 total.

Wages

Comm. 15-601.1 - Earned but unpaid wages are exempt as follows: in Caroline, Kent, Queen Anne's, and Worcester counties, the greater of 75% of actual wages or 30 times the federal minimum wage; in all other counties, the greater of 75% or $145 per week.

Pensions

11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person.

St.Pers.Pen. 21-502 - State employees

11-504 - ERISA-qualified benefits, including IRAs, Roth IRAs and Keoghs.

Public Benefits

Labor & Employ. 8-106 - Unemployment compensation.

Labor & Employ. 9-732 - Workers' compensation.

Code of 1057 88A-73 - General assistance.

Code of 1957 art. 24 16-103 - Baltimore police death benefits.

Crim. Proc. 11-816 - Crime victims' compensation.

Tools of Trade

11-504 - Tools, books, instruments, appliances, and clothing needed for work up to $5,000.

Insurance

Ins. 8-431 - Fraternal benefit society benefits.

Ins. 16-111 - Life insurance or annuity contract proceeds, dividends, interest, loan, cash, or surrender value if beneficiary is a dependent of the insured.

Comm. 15-601.1 - Medical benefits deducted from wages as well as medical insurance payments up to $145 per week or 75% of disposable wages.

11-504 - Disability or health benefits.

Other - Add any applicable Federal Nonbankruptcy Exemptions

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