If you file bankruptcy in Nevada, you cannot pick the federal bankruptcy exemption list. Nevada is an opt-out state under NRS 21.090(3), which means you must use Nevada's own set of property exemptions instead of the federal menu in 11 U.S.C. § 522(d). The trade-off is usually a good one for homeowners: Nevada's homestead exemption protects up to $605,000 of equity in your home (NRS 115.010), far more than the federal figure. On top of that, Nevada shields up to $15,000 of equity in one motor vehicle, gives you a $10,000 wildcard you can apply to almost anything, and protects thousands of dollars in household goods and tools of the trade. Below is how each of these works, where the limits bite, and how to make sure your property is actually protected.
Nevada requires the state exemption set, not the federal one
Federal law lets each state decide whether bankruptcy filers may choose between the federal exemptions and the state's exemptions. Nevada took the path many states take: it opted out. Under NRS 21.090(3), a Nevada resident filing bankruptcy must claim the Nevada exemptions found in NRS 21.090 and NRS Chapter 115, together with any federal nonbankruptcy exemptions that exist outside the Bankruptcy Code (for example, certain federal benefits and retirement protections). You may not use the 11 U.S.C. § 522(d) federal bankruptcy list.
One practical wrinkle: to use Nevada's exemptions you generally must have been domiciled in Nevada for the period the Bankruptcy Code requires before filing (the Code looks back roughly two years to decide which state's exemptions apply). If you moved to Nevada recently, talk to a lawyer about which state's exemptions you are entitled to claim, because a recent move can force you onto your prior state's set.
The homestead exemption: up to $605,000 of home equity
Nevada's homestead exemption is one of the most generous in the country. Under NRS 115.010, the exemption protects equity in your primary dwelling up to a statutory cap that, as of 2026, is $605,000. This applies to a house, a mobile or manufactured home, or a condominium that you occupy as your residence. Because the legislature has raised this figure over the years, confirm the current amount against the Nevada Revised Statutes before you rely on it.
A few important limits:
- It protects equity, not value. If your home is worth $500,000 and you owe $480,000 on the mortgage, you have $20,000 of equity, all of which fits comfortably under the cap. The exemption does not erase your mortgage; the lender's lien survives.
- The cap is not doubled for married couples. Nevada treats the homestead as a single exemption tied to the dwelling, so spouses filing jointly generally cannot stack two homestead amounts on the same home.
- It does not stop every creditor. The homestead does not defeat mortgages, deeds of trust, mechanic's liens, tax liens, HOA assessments, or debts you specifically secured with the home.
- Recording a Declaration of Homestead. Nevada lets you record a Declaration of Homestead with the county recorder. The bankruptcy homestead can apply without it, but recording the declaration strengthens your protection against judgment creditors generally, and it is inexpensive to do.
There is also a federal cap to keep in mind. The Bankruptcy Code limits the state homestead exemption to roughly $189,050 (a figure adjusted periodically) for equity acquired within 1,215 days before filing, in certain situations. Long-time Nevada homeowners are usually unaffected, but recent buyers should ask counsel how this federal ceiling interacts with Nevada's larger number.
The vehicle exemption: $15,000 of equity in one car
Under NRS 21.090(1)(f), you may exempt up to $15,000 of equity in one motor vehicle. As with the home, this protects equity, not sticker value: if you still owe money on a car loan, only the equity above the loan balance counts. If the vehicle is specially equipped or modified for a person with a disability, the statute removes the dollar cap entirely.
If your car equity exceeds $15,000, you are not automatically going to lose the car. You can often combine the vehicle exemption with the wildcard exemption (below) to cover the overage, or in a Chapter 13 you can keep the car by paying the non-exempt value through your repayment plan.
The $10,000 wildcard exemption
NRS 21.090(1)(z) gives Nevada filers a wildcard exemption of up to $10,000 in any personal property of the debtor's choosing. This is one of the most useful tools in a Nevada case because it is flexible: you can apply it to cash in the bank, a tax refund, extra vehicle equity, valuable collectibles, or anything else that is not already fully covered by a specific exemption. It does not apply to real estate, but for personal property it fills gaps that the targeted exemptions leave open.