LAMSON LAW FIRM P.C.

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Exempt Property

The following property is a list of the most common types of property that are generally (emphasize generally) considered under the Bankruptcy Code to be exempt, meaning that the property cannot be taken by the bankruptcy trustee and sold to pay your debts.  (The "bankruptcy trustee" is the federal employee or contract attorney who manages your bankruptcy for the bankruptcy court.)

For a more complete list of property deemed exempt under Oklahoma law, which is subject to adjustment by the U.S. Bankruptcy Court, click here for the Exempt Property List.

  1. House that is the personal residence (equity limits).
  2. Vehicle/car with equity of $7,500 or less.
  3. Clothing valued at $4,000 or less.
  4. Wedding and anniversary rings of $3,000 or less.
  5. Household furnishings and personal computers (limits).
  6. Guns for personal use of $2,000 or less.
  7. Books, portraits, pictures.

NOTICE:  Information on these website pages is not geared to your facts and should not be construed as legal advice.

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Median Income Chart

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