WHAT IS "EXEMPT" PROPERTY? Certain property cannot be taken from you by a judgment creditor or by a bankruptcy trustee. The property which is protected is known as "exempt" property. Exemptions vary from state to state. The following is a list of the Oregon exemptions (current as of January 1, 2005). This list is not all inclusive but lists the most commonly claimed exemptions: (*NOTE! The amounts marked with an "*" are doubled for married debtors or joint debtors in the same household.) | STATUTES | LIMIT ON THE AMOUNT OF THE EXEMPTION | Books, pictures, musical instruments, art objects, collections | 18.345(1)(a) | $ 600.00* | Wearing apparel, jewelry | 18.345(1)(b) | $1,800.00* | Tools of the trade | 18.345(1)(c) | $3,000.00* | Vehicle | 18.345(1)(d) | $1,700.00*($2,150 as of Jan. 1, 2006) | Domestic animals | 18.345(1)(e) | $1,000.00 | Household goods, furnishings and Provisions (Food & Fuel for 60 days) | 18.345(1)(f) | $3,000.00 | Spousal support, child support | 18.345(1)(i) | 100% | Bodily Injury Claims | 18.345(1)(k) | $ 10,000.00* | Earned Income Credit | 18.345(1)(n) | 100% | Any personal property (the "general" exemption) | 18.345(1)(o) | $ 400.00* | Homestead - Personal residence: Single Debtor Joint (Married Debtors) | 18.395 | $25,000.00 ($30,000 as of Jan 1, 2006) $33,000.00 ($39,600 as of Jan 1, 2006) | Homestead - Mobile Home (own land) Single Debtor Joint (Married Debtors) | 18.428(1) | $23,000.00 $30,000.00 | Homestead - Mobile Home (don’t own land) Single Debtor Joint (Married Debtors) | 18.428(5) | $20,000.00 $27,000.00 | Wages | 18.385 | 75% | One rifle or shotgun, one pistol combined value | 18.362 | $ 1,000.00 | Pension plans | 18.358 | 100% | Social Security Benefits | 23.166 42 U.S.C. § 407 | $7,500.00 | Aid to Disabled Persons | 412.610 | 100% | Certain Annuity Policy Benefits | 743.049 | Partial | Burial Lots sold by a non-profit corporation | 65.870 | 100% | Fraternal Benefit/Society Benefits | 748.207 | 100% | Health & Disability Benefits | 743.050 | 100% | Life Insurance Proceeds | 743.046 | 100% | Life Insurance Proceeds - Group | 743.047 | 100% | Unemployment Compensation Benefits | 657.855 | 100%, (75% if judgment is for a support obligation) | Veteran’s Benefits & Loans | 18.345(1)(m) | 100% | Veteran’s State Loan Funds | 407.595 | 100% | Vocational Rehabilitation Payments | 344.580 | 100% | Workmen’s Compensation Benefits | 656.234 | 100%, (75% if judgment is for a support obligation) | Wages on deposit in Bank (75%) | 18.385 | $7,500.00 | College Savings Accounts | ORS 348.863(2) | 100% |
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