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Increased Home Protection in Bankruptcy

This act increases the amount of home value that can be protected when filing for bankruptcy. It aims to provide greater financial stability for individuals facing bankruptcy, helping them retain more of their home's value.
Key points
Increases the home exemption amount from $15,000 to $100,000 in bankruptcy cases.
Allows individuals to claim the higher federal exemption even if state law provides a lower amount.
Changes apply to bankruptcy cases filed after the law takes effect.
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Expired
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Additional Information
Print number: 117_HR_242
Sponsor: Rep. Dean, Madeleine [D-PA-4]
Process start date: 2021-01-11
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Protecting Homeowners in Bankruptcy Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_242.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-01-11.

What are the main provisions?

Key points include:

  • Increases the home exemption amount from $15,000 to $100,000 in bankruptcy cases.
  • Allows individuals to claim the higher federal exemption even if state law provides a lower amount.
  • Changes apply to bankruptcy cases filed after the law takes effect.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Dean, Madeleine [D-PA-4].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Real Estate Courts and Law Benefits