What are bankruptcy exemptions in Tennessee?

Tennessee has modest homestead exemptions but a generous personal property wildcard.

1. Opt-Out State — T.C.A. § 26-2-112

Tennessee opted out. Debtors must use Tennessee exemptions.

2. Homestead — T.C.A. § 26-2-301

$5,000 single individual.

$7,500 married couple (joint owners).

$25,000 if debtor is 62+ and unmarried.

$50,000 if both debtors are 62+ joint.

$35,000 if debtor or spouse has minor child (per T.C.A. § 26-2-301(f)).

Tennessee homestead is among the lower in the country for working-age debtors.

3. Wildcard — T.C.A. § 26-2-103

$10,000 in any personal property of debtor's choice.

This is unusually generous for a wildcard and partially compensates for the small homestead. Particularly useful for vehicle equity (no specific vehicle exemption).

4. Personal Property — T.C.A. § 26-2-104

Necessary clothing: unlimited (per § 26-2-104(a)(2)).

Family pictures, family Bibles, school books: unlimited.

Burial plots: 1 acre or less.

5. Motor Vehicle

NO specific vehicle exemption — must use the $10,000 wildcard.

Joint debtors may stack two $10,000 wildcards = $20,000.

6. Tools of Trade — T.C.A. § 26-2-111(4)

$1,900.

7. Wages — T.C.A. § 26-2-106

75% of disposable earnings OR 30x federal minimum wage exempt (matches CCPA).

8. Retirement Accounts — T.C.A. § 26-2-111(1)(D)

ERISA plans, IRAs, Roth IRAs: fully exempt.

9. Insurance — T.C.A. § 56-7-203

Life insurance proceeds and cash value — exempt.

10. Public Benefits — T.C.A. § 26-2-111

Social Security, unemployment, workers' comp, veterans', public assistance — fully exempt.

11. Personal Injury Proceeds — T.C.A. § 26-2-111(2)

$7,500 for personal injury.

Wrongful death: $10,000.

12. Tenancy by the Entirety

Tennessee recognizes — joint marital property exempt from individual creditors.

13. Domicile Requirement

730-day rule under 11 U.S.C. § 522(b)(3).

14. Practical Application

Most working-age TN debtors with modest assets:

$5,000 homestead.

$10,000 wildcard (often allocated to vehicle).

Retirement accounts protected.

The exemption is best used by strategically allocating the $10,000 wildcard.

This is legal information, not legal advice.