Judgments: What are the State Exemptions for Utah?
Utah is not debtor friendly. Exemptions (those items you can keep if you get sued in court) include a tiny $20,000 dollar amount for your primary home. In other words, if you have more than $20,000 in equity in your home and a collections agency gets a judgment against you, you will most likely be forced to sell you home. Utah is a little bizarre in that (unlike most states), it lists the specific items you can keep, like one microwave. So if you’d rather keep that nice digital camera, too bad. If you get a judgment against you, your creditor will most likely force you to sell it.
State exemptions (those items you can keep if you get sued)
- Homestead: $20,000 in value, but only $5,000 if property is not your primary residence. Up to 1 acre of land.
- Car: $2500
- Personal Property that is exempt (one of each): clothes washer/dryer, refrigerator, freezer, stove, microwave oven, sewing machine, carpets, food for 12 months for your family, clothes (excluding jewelry or furs), beds and bedding in use by you or a dependent.
- Sofa/chairs: $500
- Dining table/chairs: $500
- Animals/musical instruments, book: $500
- Heirlooms: $500
- Tools of the trade: $3,500
- Personal injury settlements: exempt
- Wrongful death benefits: exempt in most cases
- Pensions, including 401K, IRA: exempt except amounts deposited in these accounts up to one year prior
- Burial plot: exempt
- Health aids: may be exempt (up to the judge if he deems them “reasonably necessary” to sustain health.
Related posts:
- Bankruptcy and Judgments: What are the State Exemptions for Washington?
- Bankruptcy and Judgments: What are the State Exemptions for Wisconsin?
- Bankruptcy and Judgments: What are the State Exemptions for Colorado?
- Bankruptcy and Judgments: What are the State Exemptions for Texas?
- Judgments: What are the State Exemptions for West Virginia?
