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Federal supplemental exemptions can be used in conjunction with your New Mexico exemptions and can be viewed here.
In New Mexico, you may choose
to use the federal
exemption set instead of your state exemptions.
Also see New Mexico bankruptcy forms.
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ASSET
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EXEMPTION DESCRIPTION
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LAW SECTION
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Homestead
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Married, widowed or supporting another may claim real property to
$30,000 (joint owners may double)
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42-10-9
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Insurance
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Benevolent association benefits to $5000
Fraternal benefit society benefits
Life, accident, health or annuity benefits, withdrawal or cash value,
if beneficiary is a New Mexico citizen
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42-10-4
59A-44-18
42-10-3
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Miscellaneous
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Ownership interest in unincorporated association
Property of business partnership
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53-10-3
54-1-25
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Pensions
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Pension or retirement benefits
Public school employees
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42-10-1, 42-10-2
22-11-42A
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Personal Property
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Books, health equipment & furniture
Building materials
Clothing
Cooperative association shares, minimum amount needed to be member
Jewelry to $2500
Materials, tools & machinery to dig, torpedo, drill, complete,
operate or repair oil line, gas well or pipeline
Motor vehicle to $4000
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42-10-1, 42-10-2
48-2-15
42-10-1, 42-10-2
53-4-28
42-10-1, 42-10-2
70-4-12
42-10-1, 42-10-2
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Public Benefits
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AFDC, general assistance
Crime victims’ compensation paid before 7/1/93
Occupational disease disablement benefits
Unemployment compensation
Workers’ compensation
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27-2-21
31-22-15
52-3-37
51-1-37
52-1-52
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Tools of Trade
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$1500
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42-10-1, 42-10-2
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Wages
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Minimum 75% of earned but unpaid wages; bankruptcy judge may
authorize more for low- income debtors
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35-12-7
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Wild Card
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$500 of any personal property
$2000 of any property in lieu of homestead
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42-10-1
42-10-10
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