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Real Property - the Montana Homestead Exemption The Montana homestead exemption is particularly generous. It allows filers to exempt up to $250,000 in equity in their primary residence, provided that they file a homestead declaration before submitting a formal bankruptcy petition to the court.
(Official Form 106C) lists the property that you believe you are entitled to keep. If you do not claim the property on this form, it will not be exempted, despite your rights under the law. Before filling out this form, you have to decide whether you will use your state exemptions or the federal exemptions.