Establishes homestead and bank account exemptions for persons in debt in New Jersey.

This bill establishes homestead and bank account exemptions for persons in debt in New Jersey. It allows an owner who has declared bankruptcy to exempt from attachment, execution, and forced sale a homestead, defined as a dwelling house, appurtenances, land, condominium unit, or manufactured home if it is the primary residence of the owner or family members. The bill also adds a bank account exemption of up to $3,500 in cash for a deposit account or joint account, regardless of whether a debtor files for bankruptcy.

Establishes homestead and bank account exemptions for persons in debt in New Jersey.

This bill establishes homestead and bank account exemptions for persons in debt in New Jersey. It allows an owner who has declared bankruptcy to exempt from attachment, execution, and forced sale a homestead, defined as a dwelling house, appurtenances, land, condominium unit, or manufactured home if it is the primary residence of the owner or family members. The bill also adds a bank account exemption of up to $3,500 in cash for a deposit account or joint account, regardless of whether a debtor files for bankruptcy.