Wyoming Homestead Exemption Alternatives

The State of Wyoming homestead exemption law includes the opt-in option pursuant to the election of the state legislature. As an opt-in state, residents may choose either the federal or state exemption provisions. For purposes of determining permitted homestead values, the Wyoming Homestead Exemption Act establishes an upper limit for equity owned in the amount of $10,000, while the federal provision permits up to $18,500. Additionally, the federal value amount includes periodic increases based on changes in the consumer price index.

Debtors in bankruptcy are not required to file a Wyoming homestead exemption form in the county real estate records. But if filed before initiating bankruptcy, this document may prevent unmeritorious objections for owners of more than one potential homestead.