Skip to main content

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

San Diego, CA |

Just wondering.

Attorney Answers 5

Posted

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.

Mark as helpful

1 found this helpful

5 lawyers agree

Posted

Yes.

My comment here does not create an attorney client relationship with you. I am a debt relief agency. I help people file for bankruptcy under the United States Bankruptcy Code.

Mark as helpful

4 lawyers agree

Posted

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

Mark as helpful

1 found this helpful

6 lawyers agree

1 comment

Steven Keith Brumer

Steven Keith Brumer

Posted

Yes. If you meet the residency requirements and nobody objects as a host of other what ifs but generally if you're entitled to use the CA exemptions then they apply toward the protection of out of state property which was I think the focus of the question. Not whether the debtor was entitled to the CA exemptions.

Posted

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 Attorney for a consultation. Tokarska Law Center is a Federal Debt Relief Agency representing individuals and businesses in filing for bankrutpcy protection under the U.S. Bankrutpcy Code. Kathryn U. Tokarska is a San Diego Bankruptcy Attorney, owner of Tokarska Law Center, 185 West F Street #100, San Diego, CA 92101, (619) 285-1992 www.sdbankrupt.com

Mark as helpful

5 lawyers agree

Posted

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 be, legal advice. You should consult an attorney for individual advice regarding your own situation. Answering this question does not in any way constitute legal representation.

Mark as helpful

Bankruptcy and debt topics

Top tips from attorneys

What others are asking

Can't find what you're looking for?

Post a free question on our public forum.

Ask a Question

- or -

Search for lawyers by reviews and ratings.

Find a Lawyer

Browse all legal topics