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Certain property is exempt from forfeiture and liquidation for payment of unsecured debts. Debtors in Ohio bankruptcy cases may elect
the specific property listed by state statute which include allowances for personal property, insurance,
pensions, tools of trade and many other items. The characterization of property to conform to allowed statutory
definitions of exempt property is often subject to dispute. 16 state jurisdictions allow debtors to alternatively
select
the federal exemptions specified by the Code.
| Rule 4003 of the Federal Bankruptcy Rules of Procedure provides, in part, "(a) Claim of
Exemptions. A debtor shall list the property claimed as exempt under Sec. 522 of the Code on the schedule of
assets required to be filed by Rule 1007. If the debtor fails to claim exemptions or file the schedule
within the time specified in Rule 1007, a dependent of the debtor may file the list within 30 days
thereafter." |
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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