{"id":376454,"date":"2016-03-31T21:36:48","date_gmt":"2016-04-01T02:36:48","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/state\/tennessee-law\/tennessee-homestead-laws.html"},"modified":"2016-06-20T19:51:09","modified_gmt":"2016-06-21T00:51:09","slug":"tennessee-homestead-laws","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/state\/tennessee-law\/tennessee-homestead-laws.html","title":{"rendered":"Tennessee Homestead Laws"},"content":{"rendered":"\n
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Tennessee 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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Most states allow property owners to declare a portion of their home a "homestead" and thus protected from creditors, which helps keep a roof over the heads of homeowners who are having financial difficulties. Specifically, homestead laws<\/a> prevent forced sales of debtors’ primary residences, which typically come into play after a bankruptcy filing. Generally, Tennessee property owners may designate up to $5,000 worth of their property as a homestead, or $7,500 if it involves more than one debtor.<\/p>\n

According to Tennessee statute, the homestead exemption "shall not be subject to execution, attachment, or sale under legal proceedings during the life of the individual." Wherever a marital relationship is present, homestead protections may not be waived without consent of the other spouse.<\/p>\n\n
Code Section<\/td>\n26-2-301<\/td>\n<\/tr>
Max. Property Value That May Be Designated ‘Homestead’<\/td>\n$5,000 or $7,500 if more than one debtor is subject to liability<\/td>\n<\/tr>
Maximum Acreage (Urban)<\/td>\n–<\/td>\n<\/tr>
Maximum Acreage (Rural)<\/td>\n–<\/td>\n<\/tr><\/tbody><\/table>\n

Note:<\/i><\/b> State laws are constantly changing. We make every effort to keep our state law listings up-to-date, but you may also want to contact a Tennessee debtor-creditor attorney<\/a> or conduct your own legal research to verify the state law(s) you are researching.<\/i><\/p>\n

Homestead Protections for Older Tennessee Homeowners<\/h2>\n

Tennessee offers additional protections for unmarried homeowners over the age of 62, who are entitled to a homestead exemption of up to $12,500. To qualify, the individual must use the property as his or her principle place of residence. The homeowner can take an exemption of up to $20,000 if married to someone younger than 62, and $25,000 if both are over 62. In addition, a homeowner of any age with custody of at least one minor child also is entitled to an exemption of up to $25,000.<\/p>\n

Federal Homestead Protections<\/h2>\n

Tennessee property owners may choose to take the federal homestead exemption when filing for bankruptcy, but may not take both federal and state exemptions. Federal homestead exemptions protect a portion of your equity from creditors.<\/p>\n

Research the Law<\/h2>\n