Oklahoma Bankruptcy Exemptions

Oklahoma Exemption Notes

OPT OUT STATUS:

Can I use the §522(d) Federal Bankruptcy Exemptions in Oklahoma?

No. Okla. Stat. tit. 31, § 1(B)

KEY EXEMPTIONS:

Homestead

Real property or manufactured home to unlimited value; property cannot exceed 1 acre in city, town, or village, or 160 acres elsewhere; $5,000 limit if more than 25% of total sq. ft. area used for business purposes; okay to rent homestead as long as no other residence is acquired

Motor Vehicle

Motor vehicle to $7,500

Wildcard

None

Personal Property


Books, portraits, & pictures
Clothing to $4,000
Household & kitchen furniture, personal computer & related equipment
Livestock for personal or family use: 5 dairy cows & calves under 6 months; 100 chickens; 20 sheep; 10 hogs; 2 horses, bridles, & saddles; forage & feed to last 1 year
Guns for household use to $2,000
Wedding and anniversary rings to $3,000

See Also:
Insurance, Pensions, Public Benefits, Tools of Trade, Wages & Miscellaneous
ADVERTISEMENT -
ADVERTISEMENT -