In order to answer this question, it’s important to first define what “equity” is. Equity is the difference between the value of your property and what is owed on it. For example, if your home is worth $150,000 and you owe $115,000 on it, then you have $35,000 in equity in your home.
In most cases Vermonters may keep $125,000 in equity in their primary residence. It is important to note that this amount is NOT doubled if the home is owned by a husband and a wife. In certain circumstances those who own property as Tenants by the Entirety by be able to protect more equity, however certain requirements must be met. It is critial that you consult an attorney if you intend to rely on the Tenancy by the Entirety exemption to protect your property.
