C.R.S.
Section 13-54-102
Property exempt
- commingled exempt and nonexempt assets
- definitions
(1)
The following property is exempt from levy and sale under writ of attachment or writ of execution:(a)
The necessary wearing apparel of the debtor and each dependent to the extent of two thousand dollars in value;(b)
Watches, jewelry, and articles of adornment of the debtor and each dependent to the extent of two thousand five hundred dollars in value;(c)
The library, family pictures, and school books of the debtor and the debtor’s dependents to the extent of two thousand dollars in value, not including any property constituting all or part of the stock in trade of the debtor;(d)
Burial sites, including spaces in mausoleums, to the extent of one site or space for the debtor and each dependent;(e)
The household goods owned and used by the debtor or the debtor’s dependents to the extent of six thousand dollars in value;(f)
Provisions and fuel on hand for the use or consumption of the debtor or the debtor’s dependents to the extent of six hundred dollars in value;(g)
Intentionally left blank —Ed.(I)
Except as otherwise provided in subsection (1)(g)(II) of this section, in the case of every debtor engaged in agriculture as the debtor’s principal occupation, including farming, ranching, and dairy production or the raising of livestock or poultry, the following, in the aggregate value of one hundred thousand dollars:(A)
All livestock, poultry, or other animals;(B)
All crops, dairy products, and agricultural products grown, raised, or produced; and(C)
All tractors, farm implements, trucks used in agricultural operations, harvesting equipment, seed, and agricultural machinery and tools.(II)
Only one exemption in the aggregate value of one hundred thousand dollars is allowed for a debtor and the debtor’s spouse under subsection (1)(g)(I) of this section. In the event that property is claimed as exempt by a debtor or the debtor’s spouse under subsection (1)(g)(I) of this section, no exemption is allowed for the debtor or the debtor’s spouse under subsection (1)(i) of this section.(h)
Except for amounts due under court-ordered support of children or spouse which are subject to the exemption provisions of section 13-54-104, all money received by any person as a pension, compensation, or allowance for any purpose on account or arising out of the services of such person as a member of the armed forces of the United States in time of war or armed conflict, and whether in the actual possession of the recipient thereof or deposited or loaned by him, and a like exemption to the unremarried widow or widower and the children of such person who receive a pension, compensation, or allowance of any kind from the United States on account or arising out of such service by a deceased member of such armed forces; and when a debtor entitled to exemption under this paragraph (h) dies or leaves his family said exemption shall extend to the dependents of said debtor;(h.5)
The articles of military equipment personally owned by members of the National Guard;(i)
Intentionally left blank —Ed.(I)
Except as described in subsection (1)(i)(II) of this section, the stock in trade, supplies, fixtures, maps, machines, tools, electronics, equipment, books, and business materials of a debtor that are used and kept for the purpose of carrying on:(A)
The debtor’s primary gainful occupation, in the aggregate value of sixty thousand dollars; or(B)
Any other gainful occupation, in the aggregate value of twenty thousand dollars.(II)
Exempt property described in this subsection (1)(i) may not also be claimed as exempt pursuant to subsection (1)(j) of this section.(j)
Intentionally left blank —Ed.(I)
Up to two motor vehicles or bicycles kept and used by any debtor, in the aggregate value of fifteen thousand dollars; or(II)
Intentionally left blank —Ed.(A)
Up to two motor vehicles or bicycles kept and used by any debtor who is elderly or disabled or by any debtor’s spouse or dependent who is elderly or disabled, in the aggregate value of twenty-five thousand dollars.(k)
The library of any debtor who is a professional person, including a minister or priest of any faith, kept and used by the debtor in carrying on his or her profession, in the value of three thousand dollars; except that exemptions with respect to any of the property described in this paragraph (k) may not also be claimed under paragraph (i) of this subsection (1);(B)
The proceeds of policies or certificates of life insurance paid upon the death of the insured to a designated beneficiary, without limitation as to amount, for writs of attachment or writs of execution issued against the insured.(II)
The provisions of this paragraph (l) shall not be interpreted to provide an exemption for attachment or execution of the proceeds of any policy or certificate of life insurance to pay the debts of a beneficiary of such policy or certificate.(III)
The provisions of this paragraph (l) shall not provide an exemption for attachment or execution of the proceeds of any policy or certificate of life insurance if the beneficiary of such policy or certificate is the estate of the insured.(IV)
For purposes of this paragraph (l), “extraordinary moneys” means monetary contributions or loan payments in excess of those contractually required under the policy or certificate of life insurance.(m)
The proceeds of any claim for loss, destruction, or damage and the avails of any fire or casualty insurance payable because of loss, destruction, or damage to any property which would have been exempt under this article to the extent of the exemptions incident to such property;(n)
The proceeds of any claim for damages for personal injuries suffered by any debtor except for obligations incurred for treatment of any kind for such injuries or collection of such damages;(o)
The full amount of any federal or state income tax refund attributed to an earned income tax credit or any child tax credit, whether as a refundable tax credit or as a nonrefundable reduction in tax;(p)
Professionally prescribed health aids for the debtor or a dependent of the debtor;(q)
The debtor’s right to receive, or property that is traceable to, an award under a crime victim’s reparation law;(r)
For purposes of garnishment proceedings pursuant to article 54.5 of this title 13, any amount held by a third party as a security deposit, as defined in section 38-12-102 (6), or any amount held by a third party as a utility deposit to secure payment for utility goods or services used or consumed by the debtor or the debtor’s dependents;(s)
Property, including funds, held in or payable from any pension or retirement plan, deferred compensation plan, and health savings accounts, including those in which the debtor has received benefits or payments, has the present right to receive benefits or payments, or has the right to receive benefits or payments in the future and including pensions or plans that qualify under the federal “Employee Retirement Income Security Act of 1974”, as amended; any employee pension benefit plan, as defined in 29 U.S.C. sec. 1002; any individual retirement account, as defined in 26 U.S.C. sec. 408; any Roth individual retirement account, as defined in 26 U.S.C. sec. 408A; and any plan, as defined in 26 U.S.C. sec. 401, and as these plans may be amended from time to time;(t)
All property which is subject to a judgment against a debtor for failure to pay state income tax to a state for periods when such individual was not a resident of such state on benefits received from a pension or other retirement plan;(u)
Any court-ordered domestic support obligation or payment, including a maintenance obligation or payment or a child support obligation or payment;(v)
Any claim for public or private disability benefits due, or any proceeds of such a claim, not otherwise provided for under law, up to five thousand dollars per month. Any claim or proceeds in excess of this amount is subject to garnishment in accordance with section 13-54-104.(w)
Up to two thousand five hundred dollars cumulative in a depository account or accounts in the name of the debtor.(x)
The debtor’s aggregate interest in firearms and hunting and fishing equipment held for personal, family, or household use or for the personal safety of the debtor and members of the debtor’s household, not to exceed one thousand dollars in value;(y)
Intentionally left blank —Ed.(I)
Any economic impact payment held by or payable to a debtor or to a debtor’s dependents in any form.(II)
As used in this subsection (1)(y) and in subsection (3) of this section, unless the context otherwise requires, “economic impact payment” means a payment from a federal, state, or local government to a debtor or to a debtor’s dependents to assist in managing the economic consequences of a national or statewide emergency or disaster. “Economic impact payment” includes:(A)
All economic impact and stimulus recovery payments to debtors pursuant to the federal “Coronavirus Aid, Relief, and Economic Security Act”, Pub.L. 116-136, as amended, or otherwise relating to the COVID-19 pandemic; and(B)
All other economic impact or stimulus recovery payments to debtors, which payments are authorized to assist with economic recovery from the COVID-19 pandemic or from any national or statewide emergency or disaster. It is the intent of the general assembly that this definition be interpreted in the broadest possible manner to protect such payments.(z)
All money placed into a life expectancy set-aside account or similar reserve fund, escrow, or impound account, which money is derived from reverse mortgage proceeds that are designated for use to pay for real estate property taxes; homeowner’s hazard, flood, or other property insurance; or other home maintenance expenses.(2)
Notwithstanding the provisions of paragraph (h) of subsection (1) of this section and section 13-54-104, military pensions shall be subject to court-ordered support of children or spouse.(3)
Notwithstanding subsections (1)(s) and (1)(y) of this section, any economic impact payment and any pension or retirement benefit or payment is subject to attachment or levy in satisfaction of a judgment taken for arrearages for child support or for child support debt, subject to the limitations in section 13-54-104.(4)
Notwithstanding anything to the contrary in this section, all property of a person who has committed a felonious killing, as defined in section 15-11-803 (1)(b), C.R.S., and as determined in the manner described in section 15-11-803 (7), C.R.S., shall be subject to attachment or levy in satisfaction of a judgment awarded pursuant to section 13-21-201 or section 13-21-202 for such felonious killing.(5)
Intentionally left blank —Ed.(a)
As provided in the exception contained in 11 U.S.C. sec. 522 (f)(3), as amended, a debtor shall not avoid a consensual lien on property otherwise eligible to be claimed as exempt property.(b)
As used in this subsection (5), unless the context otherwise requires, “consensual lien” means a lien on property granted with the consent and approval of the owner.(6)
To the extent that exempt assets are commingled with nonexempt assets, a first-in first-out accounting shall be used to determine the portion of the commingled assets to which the exemption applies. If exempt assets are commingled with nonexempt assets as part of a single transaction, any amounts withdrawn from an account for the purpose of such transaction shall be assessed on a pro rata basis. This subsection (6) applies to all provisions of the Colorado Revised Statutes concerning the exemption of assets from seizure, except for exemptions that require segregation.
Source:
Section 13-54-102 — Property exempt - commingled exempt and nonexempt assets - definitions, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-13.pdf (accessed Oct. 20, 2023).
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