Alabama Homestead and Personal Property Exemptions Increased

On June 11, 2016, Governor Bentley (Alabama) signed into law ACT No. 2015-484 which became effective that same day. The law increases the personal property exemption available to individual debtors and surviving spouses to $7,500 and the homestead exemption to $15,000. These amounts will be adjusted every three years to reflect the change in the consumer price index.

Eric Pruitt

Eric Pruitt

Shareholder at Baker Donelson
Eric L. Pruitt is a business, real estate and tax lawyer who primarily represents lenders and CMBS special servicers in commercial loan transactions throughout the country. Contact Eric at epruitt@bakerdonelson.com.
Eric Pruitt