How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask npvadvisor Your Own Question
npvadvisor
npvadvisor,
Category: Bankruptcy Law
Satisfied Customers: 11392
1929974
Type Your Bankruptcy Law Question Here...
npvadvisor is online now
A new question is answered every 9 seconds

Can a motorhome be a protected asset in bankruptcy filing as

Customer Question

Can a motorhome be a protected asset in bankruptcy filing as the primary home
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  npvadvisor replied 1 year ago.

Hi,

...

Can you tell me your state?

...

Although bankruptcy law is federal law and prescribes federal bankruptcy exemptions, every state has its own set of exemptions. In terms of items exempted, these are similar to the federal exemptions but the exemption amounts differ from state to state. (Lots of variation in amounts).Some states have very generous exemptions while others don't.

...

And some states have addressed RV as homestead and some have not.

...

As in many homestead issues, the facts of any particular case would determine the result. If an RV owner wanted to use the RV as a principal residence and protect the investment under Florida homestead laws, for example, he should set up permanent rented lot with utility facilities and use that as RV’s permanent location. The more the RV is used on the road the less likely you could use the homestead exemption.

...

Can you tell me your state? And we'll go from there

Expert:  npvadvisor replied 1 year ago.

Ok I still don't see you coming into the chat.

Without your state, I can't give you ALL the details, but likely, if you DO use as a residence you can..

...

Again, if you can tell me your state, I can give you a much more specific answer.

...

If this HAS helped, your positive rating … (by clicking or touching the stars or smileys on your screen) … would be appreciated! … That’s how we’re credited for the work here.
...

Lane