Legal Question in Bankruptcy in Indiana

Re: indiana bankruptcy law

Yes. Indiana's homestead exemption is $15k ($30k Married) in your personal residence. This means as long as you dont have more than $15k ($30k Married) in equity in the property, its exempt. You will need an appraisal or real estate broker's opinion of value. Tax assessed value will not work. If you have more than the homestead exemption in equity, you might want to consider a Chapter 13 instead of a Chapter 7. Hope this helps.