Oklahoma State Exemption List

Only State Exemptions Allowed

If you live in Oklahoma, you will only be allowed to use the Oklahoma state exemptions. There may be certain federal supplemental exemptions that may be used. It is important to discuss all bankruptcy exemptions with an Oklahoma Bankruptcy Attorney.

Bankruptcy exemptions were created to allow you to maintain enough public benefits, personal property, wages, and insurance to start over after filing bankruptcy. There may be certain residency requirements to use the Oklahoma state exemption list.

The following table will outline the Oklahoma State Exemptions. Many of your assets may not have a matching exemption.

Exemptions	Exemption Amount	Statutes
Homestead	Real property or manufactured home to unlimited value; property cannot ¼ acre, may claim $5000 on 1 acre in city, town or village, or 160 acres elsewhere (need not occupy homestead to claim it exempt as long as you don’t acquire another)	31-1(A) (1), 31-1(A) (2), 31-2
Insurance	Assessment or mutual benefits Fraternal benefit society benefits Funeral benefits prepaid & placed in trust Group life policy or proceeds Limited stock insurance benefits	36-2410 2718.1 36-6125 36-3632 36-2510
Miscellaneous	Alimony, child support Property of business partnership	31-1(A) (19) 54-225
Pensions	County employees Disabled veterans ERISA-qualified benefits Firefighters Law enforcement employees Police officers Public employees Tax exempt benefits Teachers	19-959 31-7 31-1(A) (20) 11-49-126 47-2-303.3 11-50-124 74-923 60-328 70-17-109
Personal Property	Books, portraits, pictures & gun Two bridles & Two saddles Burial plots 100 chickens, 10 hogs, 5 cows & calves under 6 months, 20 sheep; forage for livestock to last 1 year (cows must be able to produce milk for human consumption) Clothing to $4000 Furniture, health aids, food to last one year Motor vehicle to $3000 Claim for personal bodily injury, death or workers' compensation claim, for a net amount not in excess of $50,000.00, but not including any claim for exemplary or punitive damages	31-1(A) (7), (14) 31-1(A) (12) 31-1(A) (4), 8-7 31-1 (A) (10), (11), (15), (16) 31-1(A) (8) 31-1(A) (3), (9), (17) 31-1(A) (13) 31-1(A) (21); In re Luckinbill, 163 B.R. 856 (W.D. Okla. 1994)
Wages	75% of wages earned in 90 days before filing bankruptcy; bankruptcy judge may allow more if you show hardship	12-1171.1, 31-1(A) (18)
Wild Card	None
Public Benefits	Crime victims’ compensation Social security Unemployment compensation Worker’s compensation (see personal property)	21-142.13 56-173 40-2-203 85-48
Tools of Trade	Husbandry implements to farm homestead, tools, books & apparatus to $5000 total	31-1(A) (5), (6), 31-1( C)

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