"Ohio Homestead Exemption"
In general terms, a homestead for purposes of an Ohio bankruptcy case is the primary residence of the debtor.
16 states allow the election of either state statutory allowances for homestead values, or the federal exemption
provided by 11 U.S.C. 522 which limits homestead values to $18,450 in equity under current amendments.
| 11 U.S.C. §522 provides, in part, "(d) The following property may be exempted under
subsection (b)(1) of this section: (1) The debtor's aggregate interest, not to exceed $15,000 in value, in
real property or personal property that the debtor or a dependent of the debtor uses as a residence, in a
cooperative that owns property that the debtor or a dependent of the debtor uses as a residence, or in a
burial plot for the debtor or a dependent of the debtor." |
Most Courts across the county, including Ohio bankruptcy Courts, require all cases to be filed
electronically. Electronic filing includes online submission and filing by diskette at the clerk's office. On
03-15-04 the Ohio Bankruptcy Court for the Northern District issued the following order: "Notice to Attorneys
Concerning Paper Filings: Any Attorney wishing to file a new petition or other document on paper, under
circumstances that are not governed by one of the exceptions to mandatory electronic case filing set forth in
Amended General Order 03-1, shall initially file a motion for leave to file on paper. The motion, which may be
filed via the mail or over the counter, shall be accompanied by an affidavit and proposed order. The affidavit
shall set forth the specific reasons that the filing cannot be made electronically."
Back to Ohio Bankruptcy Court words & phrases table.
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