Variable Tennessee Homestead Exemption Amounts

The Tennessee Homestead Exemption Act establishes the amount of state exemptions, the application in collection proceedings, and the value amounts that may be claimed based on age and marital status. The amounts proved for exempt homes, used as primary residence, are as follows:

• Single person - $5,000
• Spouses jointly - $7,500
• Single person over 62 - $12,500
• One spouse older than 62 - $20,00
• Both spouses older than 62 - $25,000

The State legislature limits access under Tennessee homestead exemption law to the state statute. As an opt-out state, the federal statute providing $18,500 for a single person is not available. Filing a Tennessee homestead exemption form is not required to claim an exemption upon a primary family residence. However, if more than one tract of land is owned, or occupancy is spread over two or more locations (leases, rents, and time shares included) a specific interest in real estate may be formally declared by filing appropriate documents with in the county records in which the interest is located.