If I use NH exemptions in Chapter 7, what is the homestead exemption? Is that on top of the Federal exemption or in lieu of?
Correction. I mis-replied. The NH exemption is $120, 000; $240,000 for a couple.
In most cases, debtors may choose between the state and federal exemption. In order to select the state exemptions, debtors generally must have lived in NH continuously for about 2 years. The NH homestead exemption is currently $200,000 for each person having an interest in the homestead, which means that such a married couple would have a $240,000 exemption.
