This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Bankruptcy Exemption in Maryland

Under Maryland’s homestead exemption, a debtor may protect up to $31,575 of the equity in their primary residence from creditors in bankruptcy. This figure is set by Md. Code Ann., Cts. & Jud. Proc. § 11-504. The exemption applies automatically to the debtor’s dwelling, including a condominium or cooperative, and covers the amount of equity actually owned. The law does not require the debtor to use a specific formula; the worked example below demonstrates how the $31,575 cap is applied to a given equity balance. Additional exemptions for other property are provided in the same statute, with details in the official source. For an estimate of how this exemption applies to your situation, use the DocketMath calculator.

Governing authority

In Maryland, the bankruptcy exemption rule is set by Md. Code Ann., Cts. & Jud. Proc. § 11-504. The verified packet cites Md. Code Ann., Cts. & Jud. Proc. § 11-504 (https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcj&section=11-504&enactments=false).

Maryland bankruptcy exemption: the verified value is $31,575 under Md. Code Ann., Cts. & Jud. Proc. § 11-504. The verified packet cites Md. Code Ann., Cts. & Jud. Proc. § 11-504 (https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcj&section=11-504&enactments=false).

Estimate your own result: every situation has exceptions that can change the outcome. Use the bankruptcy exemption calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.