If my wife and myself are both named in the Judgement do we get double the exemptions?

The party who wins a lawsuit can collect (or “execute”) on the judgment awarded. "Execution" means that the winning party can ask a county sheriff to seize the losing party’s property or levy on the losing party’s bank account. North Carolina law, however, allows each losing party (known as a “judgment debtor”) to keep a certain amount of money and property safe from judgment collection. Each judgment debtor will receive his or her own exemption papers and must fill them out and sign them separately in order to preserve both spouse's exemption rights. North Carolina’s safe amounts, known as exempt property or “exemptions” include the following: 1. $35,000 in equity in a residence (or $60,000 if the residence was owned with a now-deceased spouse); 2. To the extent that you do not use the $35,000 residence exemption, then up to $5,000 in equity in any property of whatever type (known as the "wild card" exemption); 3. $3,500 in equity in any one vehicle; 4. $5,000 in equity in household goods, plus $1,000 household goods for each dependent, up to a maximum additional amount of $4,000; 5. $2,000 in equity in tools or equipment that are used in a business or trade; 6. Health-related items, such as hospital beds, scooters, and the like; 7. Certain investment property, including certain life insurance policies, certain retirement plans, and certain college savings plans; 8. Money that comes from personal injury settlements, alimony, child support, TANF/Workfirst, workers’ compensation benefits, unemployment benefits, and sixty (60) days worth of your wages or earnings used to support the family. In addition, federal law protects money that comes from Social Security, SSI, and Veterans’ Benefits. When only one spouse is a judgment debtor, but both are owners of the residence, the residence may be entirely exempt. When the judgment debtor co-owns property with someone else, the judgment creditor may only execute on the non-exempt equity in the property. The judgment debtor or the co-owner should have an attorney review the lawsuit complaint and deeds or titles to any co-owned property to provide an opinion on whether it is exempt, and to what extent. Your question states that you own two cars free and clear and that each is worth $5,000. You can only exempt a car if your name is on the title, so you must first determine whose name is on the title to each car. Let's say one of the cars is in your name only. You will be able to apply the $3,500 vehicle exemption to the car. In addition, since you do not own real property, you can apply some of the $5,000 wild card exemption to the car as well, keeping it entirely exempt. If your spouse's name is on the title to the other car, your spouse can use his or her exemptions to exempt that car. Important: you must assert your right to claim exempt property in order to keep it safe. Before it executes on the judgment, the winning party must send forms to the judgment debtor, entitled Notice of Right to Have Exemptions Designated and Motion to Claim Exempt Property. The judgment debtor should READ THE INSTRUCTIONS on the paperwork and follow them carefully.