Bankruptcy Exemption Worksheet — Oregon

BANKRUPTCY EXEMPTION WORKSHEET — OREGON

Table of Contents

1. Exemption System Election (State vs. Federal)
2. Oregon State Exemptions (ORS Ch. 18)
3. Federal Exemptions (11 U.S.C. § 522(d))
4. Comparison Worksheet
5. Special Considerations and Domicile
6. Certification and Signatures

UNITED STATES BANKRUPTCY COURT

DISTRICT OF OREGON

PART 1: EXEMPTION SYSTEM ELECTION

Critical Election — Oregon Is an OPT-IN State

Unlike opt-out states (e.g., California, Florida), Oregon permits debtors to choose between two systems. The election cannot be split — the debtor must select ONE complete system.

☐ OREGON STATE EXEMPTIONS — ORS Ch. 18 (and other Oregon statutes)
Generally favorable for: Homeowners with up to $40,000 / $50,000 equity; debtors with significant tools of trade; debtors with health aids or public benefits.

☐ FEDERAL EXEMPTIONS — 11 U.S.C. § 522(d)
Generally favorable for: Renters or homeowners with little/no home equity (the federal wildcard plus unused homestead can shelter up to ~$16,850 in any property under § 522(d)(5)).

Domicile Verification (11 U.S.C. § 522(b)(3)(A))

☐ Debtor has been domiciled in Oregon for at least 730 days immediately preceding the petition date.
☐ If not, debtor was domiciled for the longer portion of the 180-day period ending 730 days before filing in: [________________________________]

PART 2: OREGON STATE EXEMPTIONS

Section A: Homestead — ORS § 18.395 / § 18.398

☐ Debtor occupies the property as a principal residence as of the petition date (ORS § 18.395(1))
☐ Property does not exceed 1 block (urban) / 160 acres (rural) per ORS § 18.395(2)
☐ Homestead Declaration recorded under ORS § 18.402 (optional but recommended)

Section B: Motor Vehicle — ORS § 18.345(1)(d)

Section C: Household Goods, Furniture, Apparel — ORS § 18.345(1)(f)

Section D: Tools of Trade — ORS § 18.345(1)(c)

Section E: Wages and Earnings — ORS § 18.385

Section F: Other Personal Property Exemptions

Section G: Retirement and Public Benefits

PART 3: FEDERAL EXEMPTIONS — 11 U.S.C. § 522(d)

(Available because Oregon has NOT opted out of the federal scheme.)

Section A: Homestead — § 522(d)(1)

Section B: Motor Vehicle — § 522(d)(2)

Section C: Personal Property — § 522(d)(3)–(11)

PART 4: COMPARISON WORKSHEET

System Elected: ☐ Oregon (ORS Ch. 18) ☐ Federal (11 U.S.C. § 522(d))

Rationale for Election: [____________________________________________________________]

PART 5: SPECIAL CONSIDERATIONS

Section A: Joint Filings

Each joint debtor may claim a full set of exemptions under the elected system (ORS § 18.395 expressly provides $50,000 for jointly held homestead; other personal-property exemptions stack per debtor on separately owned items).

Section B: Opt-In Status — Strategic Implications

Oregon's opt-in status is rare among western states. For debtors with little home equity, the federal wildcard (§ 522(d)(5)) — up to $17,475 when stacked with unused homestead — typically protects more cash, bank accounts, tax refunds, and miscellaneous personal property than the Oregon $400 ORS § 18.345(1)(o) wildcard.

Section C: Inflation Adjustments

• Oregon: ORS § 18.485 directs the Council on Court Procedures to adjust certain dollar figures based on the Consumer Price Index. Verify current schedule at oregonlegislature.gov.
• Federal: 11 U.S.C. § 104 directs triennial adjustments published in the Federal Register; most recent adjustment April 1, 2025; next adjustment April 1, 2028.

Section D: Avoidance of Liens (11 U.S.C. § 522(f))

Regardless of which system is elected, the debtor may avoid (i) judicial liens and (ii) nonpossessory, nonpurchase-money security interests in household goods, tools of trade, or health aids to the extent they impair an exemption.

Section E: Pre-Petition Planning Cautions

• Conversion of nonexempt to exempt assets immediately before filing may be challenged as a fraudulent transfer (11 U.S.C. § 727(a)(2); ORS § 95.230 et seq.).
• The 1,215-day homestead cap of 11 U.S.C. § 522(p) ($214,000 — verify) limits homestead claims for recently acquired residences.

PART 6: CERTIFICATION AND SIGNATURES

I/we certify under penalty of perjury that the values and exemption claims set forth in this worksheet are true and correct to the best of my/our knowledge, information, and belief, and that the elected exemption system has been selected after consultation with counsel.

SOURCES AND REFERENCES

• ORS Chapter 18 — https://www.oregonlegislature.gov/bills_laws/ors/ors018.html
• 11 U.S.C. § 522 (federal exemptions) — https://www.govinfo.gov/
• U.S. Bankruptcy Court, District of Oregon — https://www.orb.uscourts.gov/
• Federal Register adjustments under 11 U.S.C. § 104

This worksheet is a planning tool. Exemption amounts are adjusted periodically and are subject to interpretation by the bankruptcy court. Always verify current statutory figures and consult qualified bankruptcy counsel before filing.