New Mexico Bankruptcy Exemptions
42-10-9 - $60,000.
42-10-1 - Motor vehicle up to $4,000; clothing; books; furniture; health aids; jewelry up to $2,500; and $500 of any property.
42-10-10 - $5,000 of any property, in lieu of homestead.
48-2-15 - Building materials.
53-4-28 - Minimum amount of shares needed for membership in cooperative association.
70-4-12 - Tools, machinery and materials needed to dig, drill, torpedo, complete, operate or repair an oil line, gas well or pipeline.
35-12-7 - The greater of the following: 40 times the federal hourly minimum wage or minimum of 75% of disposable earnings. Judge may approve more for low income debtors.
11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person.
22-11-42 - Public school employees.
42-10-1 & 42-10-2 - Pension or retirement benefits.
27-2-21 - General assistance.
31-22-15 - Crime victims' compensation.
51-1-37 - Unemployment compensation.
52-1-52 - Workers' compensation.
52-3-37 - Occupational disease disablement benefits.
Tools of Trade
42-10-1 & 42-10-2 - $1,500.
42-10-3 - Life, accident, health or annuity benefits or cash value, if beneficiary is a citizen of New Mexico.
42-10-4 - Benevolent association benefits up to $5,000.
42-10-5 - Life insurance proceeds.
59A-44-18 - Fraternal benefit society benefits.
53-10-2 - Ownership in an unincorporated association.
54-1A-501 - Business partnership property.
Other - Add any applicable Federal Nonbankruptcy Exemptions
This website contains information related to law and is NOT LEGAL advice. It contents is for information only. If you need legal advice, please consult an attorney or act as your own.
All documents typed are prepared by Rica Gilmore.