{"id":373554,"date":"2016-03-31T21:35:22","date_gmt":"2016-04-01T02:35:22","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/state\/kentucky-law\/kentucky-homestead-laws.html"},"modified":"2016-06-20T19:51:08","modified_gmt":"2016-06-21T00:51:08","slug":"kentucky-homestead-laws","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/state\/kentucky-law\/kentucky-homestead-laws.html","title":{"rendered":"Kentucky Homestead Laws"},"content":{"rendered":"\n
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Kentucky Homestead Laws<\/h1>\n
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Created by FindLaw’s team<\/a> of legal writers and editors<\/i><\/p>\n\n | Last updated\n

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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

We\u2019ve all felt a little financial pinch at one time or another, and for some of us, it may have been serious enough to wonder if we\u2019d lose our house. Fortunately, many states have homestead protection laws<\/a> that are intended to protect people from losing their homes in the unfortunate event of a bankruptcy. Under these statutes, a debtor can set aside a specific amount of real property, referred to as a "homestead," which would be off limits to certain creditors. Here is an introduction to homestead laws in Kentucky.<\/p>\n

Homestead Statutes in Kentucky<\/h2>\n

Similar to state homestead laws<\/a>, the Bluegrass State\u2019s homestead statute, places a limit on the value or property that can be designated as a homestead at $5,000. Debtors are also allowed to protect $3,000 of personal property. The table below highlights the specifics of Kentucky\u2019s homestead statutes.<\/p>\n\n

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

Kentucky Revised Statutes 427.010<\/a>: Exempt Personal Property and Disposable Earnings of Individual Debtors;<\/p>\n

Kentucky Revised Statutes 427.080<\/a>: Valuation and Allotment of Homestead Exemption<\/p>\n<\/td>\n<\/tr>

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

$5,000 plus $3,000 in any personal property<\/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

State homestead protections aren\u2019t absolute, however. There are four general exceptions to the homestead rule under which It is possible to be forced to sell or forfeit property:<\/p>\n