Texas Legislature Updates Exemptions on Personal Property June 19, 2015
On May 26, 2015, the Texas Legislature passed an amendment to the Texas Property Code that increases the amount of personal property that is exempt from garnishment, attachment, execution or other seizure. Previously set at $60,000 for a family, or $30,000 for an individual, the protection stopped debt collectors from seizing assets or bankruptcy from taking everything someone owned.
The new exemption amounts are $100,000 for a family and $50,000 for an individual. The protection is in addition to homestead rights, which protect someone’s land and house from seizure.
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