Oklahoma Bankruptcy Exemptions

Homestead

31-1 - Real property or manufactured home of unlimited value, but cannot exceed 160 acres if not in a city or town, or 1 acre in a city or town. You may rent the homestead as long as you do not acquire another. May be limited to $5,000 if more than 25% of area of improvements is used for business purposes.

Personal Property

8-7 - Burial plots.

31-1 - Motor vehicle up to $7,500; clothing up to $4,000; furniture, books, portraits, pictures, and health aids; food to last 1 year; 2 bridles and 2 saddles; 100 chickens, 20 sheep, 10 hogs, 5 cows and calves under 6 months, 2 horses and forage for livestock to last 1 year; personal injury, workers' compensation and wrongful death recoveries up to $50,000 total; college savings plan interest; Deposits made into an Individual Development Account; Federal earned income tax credit; guns for household use up to $2,000; anniversary and wedding rings up to $3,000; household and kitchen furniture; personal computer and related equipment; federal earned income tax credit.

36-6125 - Prepaid funeral benefits.

51-42 - War bond payroll savings accounts.

Wages

12-1171.1 & 31-1 - 75% of wages earned within 90 days prior to filing bankruptcy. Judge may approve more if you can show hardship

Pensions

11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person.

11-49-126 - Firefighters.

31-7 - Disabled veterans.

11-50-124 - Police officers.

20-1111 - Judges.

47-2-303.3 - Law enforcement employees.

19-959 - County employees.

60-328 - Tax exempt benefits.

31-1 - ERISA-qualified benefits.

70-17-109 - Teachers.

74-923 - Public employees.

Public Benefits

21-142.13 - Crime victims' compensation.

40-2-303 - Unemployment compensation.

56-173 - Public assistance and social Security.

85-48 - Workers' compensation.

Tools of Trade

31-1 - Tools, books, apparatus of trade, and husbandry implements to farm homestead, up to $10,000 total.

Alimony and Child Support

31-1 - Alimony and child support.

Insurance

36-2410 - Assessment or mutual benefits.

36-2510 - Limited stock insurance benefits.

36-2718.1 - Fraternal benefit society benefits.

36-3631 - Life insurance policy or proceeds if the policy does not prohibit it being paid to creditors.

36-3632 - Group life insurance policy or proceeds.

36-6125 - Funeral benefits if pre-paid and placed in trust.

Miscellaneous

6-3010 - Beneficiary's interest in a statutory support trust.

37-532 - Liquor license.

54-1-501 - Business partnership property.

Other - Add any applicable Federal Nonbankruptcy Exemptions


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This website contains information related to law and is NOT LEGAL advice. It contents is for information only. If you need legal advice, please consult an attorney or act as your own.
All documents typed are prepared by Rica Gilmore.