South Dakota Bankruptcy Filing - SD Bankruptcy Exemptions and Court Information

FEDERAL BANKRUPTCY EXEMPTIONS ARE NOT AVAILABLE All Bankruptcy law references are to South Dakota bankruptcy Code unless noted.
ASSET	EXEMPTION	LAW PROVISION
HOMESTEAD	Real property ( or mobile home larger than 240 square feet at its base and registered in state at least 6 months before filing for bankruptcy) to unlimited value; property cannot exceed 1 acre in town or 160 acres elsewhere; sale proceeds to $30,000 (or $170,000 if you are a widow, widower, or over 70 years old and not married) exempt for 1 year after sale (can’t exempt gold or silver mine, mill or smelter, 43-31-5 Spouse or child of deceased owner may claim homestead exemption May file homestead declaration	43-31-1, 43-31-2, 43-31-3, 43-31-4 43-31-13 43-31-6
INSURANCE	Annuity contract proceeds to $250 per month Endowment, life insurance policy, proceeds or cash value to $20,000 (husband and wife may not double, In re James, 31 B.R. 67 (D. S.D. 1983) Fraternal benefit society benefits Health benefits to $20,000 Life insurance proceeds, held pursuant to agreement by insurer, if clause prohibits proceeds from being used to pay beneficiary’s creditors Life insurance proceeds to $10,000, if beneficiary is surviving spouse or child	58-12-6, 58-12-8 58-12-4 58-37-68 58-12-4 58-15-70 43-45-6
MISC.	Property of business partnership	48-4-14
PENSIONS	City employees Public employees	9-16-47 3-12-115
PERSONAL PROPERTY	All debtors may exempt bible, books to $200, pictures, burial plots, church pew, food & fuel to last 1 year and clothing Head of family may claim $7,000 of any personal property or: Books & musical instrument to $200 2 cows, 5 swine, 25 sheep with lambs under 6 months; wool, cloth or yarn of sheep; food for all to last 1 year Farming machinery, utensils, tackle for teams, harrow, 2 plows, sleigh, wagon to $1250 total Furniture, including bedsteads & bedding to $200 Library & tools of professional to $300 Tools of mechanic & stock in trade to $200 2 yokes of oxen, or span of horses or mules 3. Non-head of family may claim $5000 of any personal property	43-45-2 43-45-4, 43-45-5 43-45-5(1) 43-45-5(1) 43-45-5(3) 43-45-5(3) 43-45-5(2) 43-45-5(5) 43-45-5(4) 43-45-5(3) 43-45-4
PUBLIC BENEFITS	Public assistance Unemployment compensation Workers’ compensation	28-7-16 61-6-28 62-4-42
TOOLS OF TRADE	See personal property
WAGES	Earned wages owed 60 days before filing for bankruptcy, needed for support of family Wages of prisoners in work programs	15-20-12 24-8-10
WILD CARD	See personal property

Limited Time Offer! Download Your South Dakota Bankruptcy Forms Software Today And Save 50% During Our October Sale!
Learn More>>