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What property is nonexempt in Florida?

On Behalf of | Mar 21, 2024 | Property Exempt From Bankruptcy

Debt problems quickly escalate, but bankruptcy can offer a debt off ramp to a new financial path. However, before filing for bankruptcy in Florida, you need a nuanced understanding of exempt and nonexempt property and its implications in bankruptcy cases within the state.

Nonexempt property defined

Nonexempt property encompasses assets not safeguarded by Florida’s bankruptcy exemptions. These assets are subject to liquidation by the bankruptcy trustee in Chapter 7 bankruptcy proceedings to satisfy creditor claims.

Types of nonexempt property

Nonexempt property commonly includes secondary residences, vacation homes and additional vehicles that exceed exemption limits. It also includes investment accounts not designated as retirement funds, valuable collections, like stamps or coins, and nonessential household items and electronics.

Role of nonexempt property in bankruptcy

In Chapter 7 bankruptcy, nonexempt property is sold by the trustee to repay creditors. Alternatively, Chapter 13 bankruptcy enables debtors to retain nonexempt assets by repaying their value through a structured repayment plan.

Florida’s nonexempt property regulations

Florida law mandates the use of state-specific bankruptcy exemptions, with federal non-bankruptcy exemptions applicable in certain cases. First, while the Florida homestead exemption protects your primary residence and an unlimited amount of equity, this does not apply to other properties you own. And, that primary residence can only be a maximum of a half-acre, and there are minimum Florida residency requirements as well.

Personal property valued outside $1,000 is also not exempt, per Article 10, Section 4, of the Florida Constitution. Savings accounts that are not health savings accounts, prepaid medical savings accounts, hurricane savings accounts or educational savings accounts are also nonexempt, per Florida Statute, Section 222.22.


Distinguishing between exempt and nonexempt property is pivotal in Florida bankruptcy proceedings. Florida law specifies what property qualifies as exempt and nonexempt property.



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