California chapter 7 bankruptcy. Can I use the CA exemption system to protect my property out of state?

Asked over 1 year ago - San Diego, CA

Just wondering.

Attorney answers (5)

  1. Timothy William Combs

    Pro

    Contributor Level 13

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    Answered . Yes, providing that you are otherwise "qualified" to use the California exemptions. I would certainly recommend seeking experienced counsel as this is an area where many debtors go wrong.

  2. Brian Crozier Whitaker

    Contributor Level 17

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    Answered . Maybe ... if you resided in CA two years ago (to oversimplify the rule a bit), you can use the CA exemptions.

  3. Kathryn Ursula Tokarska

    Contributor Level 16

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    Answered . Yes, provided you are eligible to use California exemptions. You have to be a resident for a period of 2 years before a debtor can use the exemptions of the State where they reside. In California we have to sets of exemptions 704 and 703. Provided you are eligible you can use either the exemptions in set 703s or 704s, BUT NOT BOTH. I hope you know what you are doing it doesn't necessarily get easier from there. Good luck. :-)

    I am not YOUR lawyer. Don't rely on answers to questions as legal advice. For legal advice contact a Bankruptcy... more
  4. Steven Keith Brumer

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    Contributor Level 9

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    Answered . Yes.

    My comment here does not create an attorney client relationship with you. I am a debt relief agency. I help... more
  5. Mark Markus

    Contributor Level 16

    Answered . As the others have pointed out, the answer is yes assuming you are otherwise eligible to use California's exemptions. The concept you are referring to here is known as extraterritoriality. Not all states allow the transporting of their exemptions to other states, but California does.

    Mark Markus has been practicing exclusively bankruptcy law in California since 1991. He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization, AV-Rated by martindale.com, and A+ rated by the Better Business Bureau. His webpage is www.bklaw.com

    Legal disclaimer: Mark J. Markus practices law in California only. The information is not, nor is it intended to... more

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