|
Homestead
|
Real property ( or mobile home larger than 240 square feet at its
base and registered in state at least 6 months before filing for
bankruptcy) to unlimited value; property cannot exceed 1 acre in town or
160 acres elsewhere; sale proceeds to $30,000 (unlimited if you’re
over age 70 or an unmarried widow or widower) exempt for 1 year after
sale (can’t exempt gold or silver mine, mill or smelter, 43-31-5
Spouse or child of deceased owner may claim homestead exemption
May file homestead declaration
|
43-31-1,
43-31-2,
43-31-3,
43-31-4
43-31-13
43-31-6
|
|
Insurance
|
Annuity contract proceeds to $250 per month
Endowment, life insurance policy, proceeds or cash value to $20,000
(husband and wife may not double, In re James, 31 B.R. 67 (D. S.D. 1983)
Fraternal benefit society benefits
Health benefits to $20,000
Life insurance proceeds, held pursuant to agreement by insurer, if
clause prohibits proceeds from being used to pay beneficiary’s
creditors
Life insurance proceeds to $10,000, if beneficiary is surviving
spouse or child
|
58-12-6, 58-12-8
58-12-4
58-37-68
58-12-4
58-15-70
43-45-6
|
|
Personal Property
|
- All debtors may exempt bible, books to $200, pictures, burial
plots, church pew, food & fuel to last 1 year and clothing
- Head of family may claim $4000 of any personal property or:
Books & musical instrument to $200
2 cows, 5 swine, 25 sheep with lambs under 6 months; wool,
cloth or yarn of sheep; food for all to last 1 year
Farming machinery, utensils, tackle for teams, harrow, 2
plows, sleigh, wagon to $1250 total
Furniture, including bedsteads & bedding to $200
Library & tools of professional to $300
Tools of mechanic & stock in trade to $200
2 yokes of oxen, or span of horses or mules
3. Non-head of family may claim $2000 of any personal property
|
43-45-2
43-45-4, 43-45-5
43-45-5(1)
43-45-5(3)
43-45-5(3)
43-45-5(2)
43-45-5(5)
43-45-5(4)
43-45-5(3)
43-45-4
|
