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ABOUT CHAPTER 7
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THE CHAPTER 7 DISCHARGE
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South Dakota Bankruptcy Exemptions   SD Bankruptcy Exemptions

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

  1. All debtors may exempt bible, books to $200, pictures, burial plots, church pew, food & fuel to last 1 year and clothing
  2. 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

 



South Dakota Bankruptcy Courts  SD Bankruptcy Courts
See the list below for Bankruptcy Courts by District. Click on the District link to go directly to that Bankruptcy Court's web site.

BANKRUPTCY COURTS NUMBER OF COPIES
District Of South Dakota
Souix Falls Division
P.O. Box 5060 (57117-5060)
Federal Building & Courthouse
400 S. Phillips Ave., Room 104
P.O. Box 5060
Sioux Falls, SD 57104
Telephone : (605) 330-4541

Pierre Division
Federal Building & U.S. Courthouse
225 South Pierre Street, Room 203
Pierre, SD 57501
Telephone: (605) 224-6013

contact clerks office

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