{"id":373244,"date":"2016-03-31T21:35:14","date_gmt":"2016-04-01T02:35:14","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/state\/indiana-law\/indiana-homestead-laws.html"},"modified":"2016-06-20T19:51:08","modified_gmt":"2016-06-21T00:51:08","slug":"indiana-homestead-laws","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/state\/indiana-law\/indiana-homestead-laws.html","title":{"rendered":"Indiana Homestead Laws"},"content":{"rendered":"\n
\n \n
\n

Indiana Homestead Laws<\/h1>\n
\n
\n

Created by FindLaw’s team<\/a> of legal writers and editors<\/i><\/p>\n\n | Last updated\n

\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
\n

This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
\n

The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

Each state has what are known as homestead protection laws<\/a> that are designed to protect homeowners from losing their homes as a result of economic hardship. These laws can sometimes allow individuals to designate a parcel of real property as a "homestead," and therefore keep it off limits to certain creditors. Indiana homestead laws allow people to claim as much as $10,000 worth of property as a homestead.<\/p>\n

Indiana Homestead Statutes<\/h2>\n

Indiana homestead laws, unlike those in many other states, don’t place a cap on the maximum acreage that may be designated. Instead, you can protect the entire property if you file for bankruptcy, although some limits are placed on the total value. Under Indiana law, the property cannot be valued at more than $10,000 for a single individual. The basic provisions of Indiana homestead laws can be found in the table below.<\/p>\n\n

Code Section<\/p>\n<\/td>\n

34-55-10-2<\/p>\n<\/td>\n<\/tr>

Max. Property Value That May Be Designated ‘Homestead’<\/p>\n<\/td>\n

$7,500 for residential; $4,000 for other real estate or tangible personal property; $100 for intangible personal property; total value of property may not exceed $10,000<\/p>\n<\/td>\n<\/tr>

Maximum Acreage (Urban)<\/p>\n<\/td>\n

–<\/p>\n<\/td>\n<\/tr>

Maximum Acreage (Rural)<\/p>\n<\/td>\n

–<\/p>\n<\/td>\n<\/tr><\/tbody><\/table>\n

Even under Indiana homestead protection, there are four general exceptions where creditors could still force the sale of property to collect debts owed to them:<\/p>\n