Pennsylvania Homestead Laws
State homestead laws allows property owners to register a small parcel of their domicile as a "homestead," and thus off-limits to creditors in the event of a foreclosure or other misfortune. These laws are intended to prevent homelessness in certain situations.
The Pennsylvania exemption system does not provide a homestead exemption. That said, equity in your home may be protected if you and your spouse own it as a tenancy by the entirety or if you opt to use the federal bankruptcy exemption scheme. The federal bankruptcy homestead exemption amount is $22,975 (as of 2013). The exemption may be used for homes, condos, co-ops, mobile homes, and burial plots. Married couples may double this exemption.
Learn more about Pennsylvania homestead laws in the chart below, followed by links to additional resources.
|Code Section||Tit. 42 §8123; Tit. 72 §4751-3|
|Max. Property Value That May Be Designated 'Homestead'||$300 monetary exemption from judgment only; for senior citizens, a formula based on a sliding scale of income up to $15,000|
|Maximum Acreage (Urban)||-|
|Maximum Acreage (Rural)||-|
Note: State laws are constantly changing -- contact an Pennsylvania bankruptcy attorney or conduct your own legal research to verify the state law(s) you are researching.
Pennsylvania Homestead Laws: Related Resources