Tennessee Bankruptcy Exemptions

This list of exemptions updated December 2009. All law references are to Tennessee Code Annotated unless otherwise noted. Federal bankruptcy exemptions are not available in Tennessee.

Homestead

26-2-301 - $5,000; $7,500 for joint owners. Tenancies by the entirety are exempt without limit as to debts of one spouse [In re Arang. 136 B.R. 740; affirmed 992 F.2d 611 (6th Cir. 1993)]. Spouse or child of deceased owner may claim. May also claim a life estate or a 2 to 15 year lease. If over 62 years of age, $12,500 for single people and $20,000 for married people; $25,000 if spouse is also over 62 years of age.

Personal Property

26-2-103 - $4,000 of any personal property.

26-2-104 - Clothing and storage containers; schools books, pictures, portraits, and bible.

26-2-105 - Health savings accounts.

26-2-111 - Health aids; lost earnings payments for yourself or a person you depended upon; personal injury recoveries up to $7,500; wrongful death recoveries up to $10,000 (LIMIT total of personal injury claims, wrongful death claims, and crime victims' compensation cannot exceed $15,000).

26-2-305 & 46-2-102 - Burial plot up to 1 acre.

Wages

26-2-106 & 26-2-107 - The greater of the following: 30 times the federal minimum hourly wage or minimum of 75% of disposable weekly income, plus $2.50 per week per child. Judge may approve more for low income debtor.

Pensions

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

8-36-111 - Public employees.

26-2-105 - State and local government employees.

26-2-111 - ERISA-qualified benefits.

45-9-909 - Teachers.

Public Benefits

13-11-115 - Relocation assistance payments.

26-2-111 - Unemployment compensation; veterans' benefits; Social Security; local public assistance.

26-2-111 & 29-13-111 - Crime victims' compensation up to $5,000, but see" LIMIT" under Personal Property above.

50-6-223 - Workers' compensation.

71-2-216 - Old-age assistance.

71-4-117 - Aid to blind.

71-4-1112 - Aid to disabled.

Tools of Trade

26-2-111 - Tools, books, and implements of trade up to $1,900.

Alimony and Child Support

26-2-111 - Alimony and child support which is owed for at least 30 days prior to filing for bankruptcy.

Insurance

26-2-110 - Disability, accident or health. benefits, for a resident and citizen of Tennessee.

26-2-111 - Disability or illness benefits.

56-7-203 - Life insurance or annuity.

56-25-1403 - Fraternal benefit society benefits.

Miscellaneous

49-4-108 - Educational scholarship trust funds and prepayment plans.

Other - Add any applicable Federal Nonbankruptcy Exemptions

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