National Divorce & Bankruptcy Center

Oregon Bankruptcy Property Exemptions:
What You Can Keep

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EXEMPT PROPERTY: The property you can keep after bankruptcy.

Some property in many states is exempt regardless of its value i.e. "all personal possessions". Many states also have a 'wild card' exemption which can be applied to any type of property or split among several different items.

An exemption limit means that any equity above the limit is 'non-exempt'. Equity is the difference between the value of the property and what is owed on the property. For example, a car valued at $4000 with a lien of $3500 has an equity value of only $500 subject to exemption.

To keep non-exempt property, a debtor must generally pay the trustee the value of the non exempt property to be distributed to creditors.

Bankruptcy law allows married couples filing jointly to each claim a full set of exemptions doubling the exemptions. Unless otherwise noted in the following exemption list, married couples may double the exemption amount given.

Note: the value of property for bankruptcy exemption purposes has been generally accepted to be the Garage sale value of the property 

OREGON State Exemptions
(bankruptcy)

Federal Bankruptcy exemptions are not available (exemptions from OR revised  statutes)

Homestead Real property, mobile home or houseboat you occupy or intend to occupy to
$25,000 ($33,000 for joint owners); if you don't own land mobile home is on, to $23,000 and
$30,000 joint); property cannot exceed 1 block in town or city of 160 acres elsewhere, sale
proceeds exempt 1 year form sale, if you intend to purchase another home.

Insurance Annuity contract benefits to $500 per month
          Fraternal benefit society benefits
          Group life insurance policy or proceeds not payable to the insured 
          Health or disability proceeds or avails
          Life insurance proceeds or cash value if you are not the insured

Miscellaneous Property of business partnership
          Alimony, child support
          Liquor licenses

Pensions  Public Employees or officers
          ERISA qualified benefits, except IRA's
          School district employees

Personal  Books, pictures & musical instruments to $600 total (husband and wife may
               double)
property  Burial plots
          Bank deposits to $7,500; cash for sold exempt property
          Clothing, jewelry & other personal items to $1,800 total (husband and wife
               may double)         
          Domestic animals, poultry with food to last 60 days to $1,000
          Food and fuel to last 60 days if debtor is householder
          Furniture, household items, utensils, radios and TV's to $3,000 total
          Health aids
          Lost earnings payments for debtor or someone debtor depended on, to extent
               needed (husband and wife may double)
          Motor vehicle to $1,700 (husband and wife may double)
          Personal injury recoveries to $7,500, not to include pain and suffering (husband
               and wife may double)
          Pistol; rifle or shotgun if owned by person over 16, to $1,000

Public    Aid to blind and disabled
benefits  Crime victims' compensation (husband and wife may double)
          Unemployment compensation
          Workers' compensation
          Civil defense and disaster relief
          General assistance
          Injured inmate's benefits
          Medical assistance
          Old age assistance
          Vocational rehabilitation

Tools          Tools, library, team with food to last 60 days, to $3,000 (husband and wife may
               double)
Wages     Minimum of 75% of earned but unpaid wages, bankruptcy judge may  
               allow more for low income debtors

Wild card $400 of any personal property, however, can't use to increase existing exemption 
          Husband and wife may double