Georgia Homestead Exemption



Georgia Homestead Exemption




Georgia Homestead Exemption - If a debtor acquires an interest in real property within 1215 days of filing for bankruptcy, the debtor can only exempt $125,000 of equity in property. In Georgia, this 1215 day issue rarely arises since Georgia's homestead exemption is limited to $10,000. Other states are far more generous. For example, in Massachusetts, by contrast, the a debtor may claim up to $500,000 in equity.

However, the Georgia exemption law does not apply if the debtor moved to Georgia less than two years prior to filing.

Georgia Homestead Exemption - New Residents

So, a Massachusetts resident (or a resident from any State with a more generous exemption law than Georgia) can move here, buy a house, and protect more equity in bankruptcy than a lifelong Georgia resident if the newly arrived resident files bankruptcy within two years of moving.

Homestead Exemption Georgia - Applications

You may apply for the Basic Homestead exemption if you own and occupy the home as your legal residence and primary domicile on January 1 of the year in which the exemption is being claimed. The home must be your legal residence for all purposes whatsoever including the registration of your vehicles and filing of your Federal and Georgia State income taxes. You cannot file for homestead exemption on rental property, vacant land, or on more than one property. Homestead exemption applications are accepted year around. Current year exemptions must be applied for January 2 through March 1. Applications received after March 1 will be processed for the following year.

Homestead Exemption Georgia - Documents

Documents needed:
  • Proof of Age Birth Certificate, Driver's License, or Georgia ID Card. Proof of Income - Current Year State and Federal Income Tax Returns and Social Security 1099 forms for every memember of your household. If you do not file tax returns, you must provide all W-2's and Form 1099 for ALL sources of income for every memember of your household.


  • Proof of Disability (if applicable) - Doctor certification by letter (or form available in our office) stating 100% total and permanent disability and/or 100% total and permanent disability certification from the Social Security Administration or other government agency.



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