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 New Mexico

New Mexico’s post-2023 bankruptcy exemption for a debtor’s homestead is calculated at the percentage set by NMSA § 42-10-9, as amended by SB 216. That statute uses a fixed 75% of the property’s net value, though the exemption is subject to additional conditions and limits defined in the law. The rule does not apply a flat dollar cap; instead, the percentage operates within a framework that the official source details. Below, the worked example illustrates how the 75% figure applies to a specific set of facts. For a result tailored to your own situation, use the DocketMath calculator to estimate the exemption amount.

Governing authority

In New Mexico, the bankruptcy exemption rule is set by NMSA § 42-10-9 (post-2023 SB 216 amendment). The verified packet cites NMSA § 42-10-9 (post-2023 SB 216 amendment) (https://www.nmlegis.gov/Sessions/23%20Regular/final/SB0216.pdf).

New Mexico bankruptcy exemption: the verified value is 75% under NMSA § 42-10-9 (post-2023 SB 216 amendment). The verified packet cites NMSA § 42-10-9 (post-2023 SB 216 amendment) (https://www.nmlegis.gov/Sessions/23%20Regular/final/SB0216.pdf).

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.