Exempt property is the property you can keep in a Chapter 7 case without having to turn over to the bankruptcy trustee. Any property you have that your Conroe Bankruptcy Attorney does not claim as exempt or that does not qualify as exempt is subject to being turned over to the bankruptcy trustee and liquidated to repay debts. Texas law provides for several property exemptions. Today we will examine the exemption for jewelry.

Sections 42.001(a) and 42.002(a)(6) of the Texas Property Code allow an exemption for jewelry not to exceed 25 percent of the aggregate limitations prescribed for exempting personal property. As of this date, the personal property exemption limit is $30,000 for an individual or $60,000 for an individual that qualifies as head of a family unit.

How Does the Jewelry Exemption Work?

In a case where you can exempt $30,000 of exempt personal property, the jewelry exemption is limited to $7,500.

In a case where you can exempt $60,000 of exempt personal property the jewelry exemption is limited to $15,000.

Both of these figures are aggregate amounts, meaning all of your jewelry combined cannot exceed the above dollar amounts. It is not a per item exemption.

Get Help

Your Conroe Bankruptcy Attorney is here to help you get through the bankruptcy process and protect your rights to the fullest extent. Keep all the property you are entitled to keep with your exemptions. Get help today.

LoneStarBankruptcy.com provides the latest news and information on Chapter 7 and Chapter 13 bankruptcy in the Southern District of Texas. The Federal Bankruptcy Court for the Southern District of Texas covers many communities including: Houston, Spring, Conroe, The Woodlands, Montgomery County, and Harris County. If you need legal assistance with a personal bankruptcy matter speak with a local bankruptcy attorney today.

In re Fink, Case No. 07-36827-H3-7 (Bankr. S.D. Tex. 9/17/2009)

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