Establishes homestead and bank account exemptions for persons in debt.

This bill creates a homestead exemption for New Jersey residents filing for bankruptcy, protecting their primary residence (including houses, condominiums, or manufactured homes) from being seized to pay off debts. The exemption automatically applies without requiring homeowners to file paperwork, and it covers properties used as the owner's main home, excluding secondary residences like vacation properties. It does not apply to debts from fraud, misconduct, or unpaid fees to community associations (e.g., homeowners' dues). This change would directly protect homeowners facing bankruptcy from losing their primary residence.