Questions About The Arkansas Homestead Exemption

After filing, the Arkansas homestead exemption form must be provided to the trustee before the 341 meeting of the creditors. In most cases, the clerk of the court provides the trustee copies of forms and schedules previously filed. During the 341 meeting, the trustee questions debtors about real estate owned, and especially, questions regarding compliance with the State of Arkansas homestead law.

Up to $2,500 in equity value may be claimed as exempt, according to the Arkansas Homestead Exemption Act. During the meeting, debtors are placed under oath and all testimony pertaining to justifiable value of the claimed exemption is admissible in court.