Re: lien on house

Posted by Why Chat (209.240.198.61) on March 07, 2003 at 15:22:59:

In Reply to: lien on house posted by airics on March 07, 2003 at 10:34:42:

Ohio
Exemptions or Assets that can be kept in a Bankruptcy
A debtor generally may claim exemption of certain real or personal property from execution of a judgment against him or in a bankruptcy proceeding. In a case where the judgment was for money owed for health care services or supplies, the debtor or his family may claim exemption of:
one parcel or item of real or personal property that he or his family uses as a residence. (O.R.C. 2329.66(A)(1)(a).) In all other judgments, a debtor may claim exemption of his interest, up to five thousand dollars ($5,000.00) in one parcel or item of real or personal property that he or his family uses as a residence,
one thousand dollars ($1,000.00) in one automobile,
four hundred dollars ($400.00) in cash,
Cooking unit and refridgerator maximun of $300 each, total = $600;
Death benefits from a benevolent society, $5,000;
Personal injury awards, $5,000;
If claiming homestead, household goods and furnishings maximum of $200 each, total = $1,500;
If not claiming homestead, household goods and furnishings maximum of $200 each, total = $2,000;
Jewelery, if claiming homestead, $1,500;
Jewelery, if not claiming homestead, $2,000;
Tools of trade, $750;
Wild card, personal property, $400.
These exemptions may also be claimed by a debtor in a bankruptcy action. While some states permit its residents to elect exemptions provided under federal law, the Statutes of Ohio specifically does not authorize such election even though the federal exemptions may be more beneficial to the debtor. (O.R.C. 2329.662.)

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