The only part of my property that I cannot seem to fit into an exemption is hand and power tools (lawn mower, saw, garden tools, and etc) has anyone figured out how to exempt these in Texas?
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Texas is similar to Florida. I would say, are they tools of your trade? Or, are they just tools. If just tools, put them down as personal items and address them as if you were selling them at a yard sale. Used tools are dime a dozen. If you cannot do this, give them to the Trustee. Probably he would just abandon them as too hard to market. Unless you have some heavy equipment, you got nothing. 'HubIf I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010. -
Hi johnbolt,
Assuming you are using Texas exemptions and not federal, your hand and power tools go under personal property, the specific TX law is Prop Code 42.002(a)(4)
Here is a good list of TX exemptions: http://bankruptcy.justia.com/laws/te...on-statutes-39
But it doesn't matter too much in the end, you have the sweet Texas-sized $30,000 personal property exemption!
Tom in ColoCh7 filed 5/12/2010.....341 meeting 6/30/2010....report of no distribution 8/15/2010.....discharged 10/01/2010.....closed 11/09/2010Comment
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You gotta love the "2 mules, and 120 chickens" exemptions in TX.Comment
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