The North Carolina 91C form is a legal document used in bankruptcy proceedings to claim property exemptions. This form allows debtors to protect certain assets from being seized during bankruptcy, adhering to both federal and state laws. Understanding how to effectively complete the 91C form can significantly impact a debtor's financial recovery and future stability.
The North Carolina 91C form plays a crucial role in the bankruptcy process, allowing debtors to claim certain properties as exempt from liquidation. This form is designed to help individuals navigate the complexities of federal and state laws regarding property exemptions, ensuring they can protect essential assets while addressing their financial challenges. Under the guidelines of 11 U.S.C. § 522, debtors can assert exemptions for various types of property, including real estate, personal belongings, and vehicles, thereby safeguarding their ability to maintain a basic standard of living. Specific categories on the form allow debtors to detail exemptions for their primary residence, tools of trade, and personal property necessary for household use. Additionally, the form outlines the limits for these exemptions, reflecting the laws of North Carolina and federal statutes. For example, a debtor may claim a vehicle with a net value not exceeding $3,500 or household items up to $5,000, with provisions for dependents. The 91C form also addresses other important aspects, such as life insurance policies, retirement accounts, and compensation for personal injuries, allowing debtors to maximize their exemptions while complying with legal requirements. Understanding how to accurately complete this form is essential for anyone facing bankruptcy in North Carolina, as it directly impacts their financial future and stability.
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91C (09/13)
UNITED STATES BANKRUPTCY COURT
MIDDLE DISTRICT OF NORTH CAROLINA
In the Matter of:
)
Case No.
DEBTOR'S CLAIM FOR
PROPERTY EXEMPTIONS
Debtor.
I,
, the undersigned debtor, hereby claim the following property as exempt pursuant to 11 U.S.C.
'522(b)(3)(A), (B), and (C), the Laws of the State of North Carolina, and non-bankruptcy federal law.
Check if the debtor claims as exempt any amount of interest that exceeds $125,000 in value in property that the debtor or a dependent of the debtor uses as a residence.
1.REAL OR PERSONAL PROPERTY USED BY DEBTOR OR DEBTOR'S DEPENDENT AS RESIDENCE OR BURIAL PLOT. NCGS 1C-1601(a)(1).
Select appropriate exemption amount below:
Total net value not to exceed $35,000.
Total net value not to exceed $60,000. (Debtor is unmarried, 65 years of age or older, property was previously owned by debtor as a tenant by the entireties or joint tenant with rights of survivorship, and former co-owner is deceased.)
Description of
Market
Mtg. Holder or
Amt. Mtg.
Net
Property & Address
Value
Lien Holder(s)
or Lien
______________________
___________
____________________
_________
_______
(a) Total Net Value
$
Total Net Exemption
(b) Unused portion of exemption, not to exceed $5,000.
(This amount, if any, may be carried forward and used to
claim an exemption in any property owned by the debtor.
(NCGS 1C-1601(a)(2)).
2.TENANCY BY THE ENTIRETY. The following property is claimed as exempt pursuant to 11 U.S.C. ' 522(b)(3)(B) and the laws of the State of North Carolina pertaining to property held as tenants by the entirety.
3.MOTOR VEHICLE. (NCGS 1C-1601(a)(3). Only one vehicle allowed under this paragraph with net value claimed as exempt not to exceed $3,500.)
Year, Make,
Model of Auto
Amt. Lien
(a) Statutory allowance
3,500
(b) Amount from 1(b) above to be used in this paragraph.
(A part or all of 1(b) may be used as needed.)
4.TOOLS OF TRADE, IMPLEMENTS, OR PROFESSIONAL BOOKS. (NCGS 1C-1601(a)(5). Used by debtor or debtor's dependent. Total net value of all items claimed as exempt not to exceed $2,000.)
Description
2,000
(A part or all of 1 (b) may be used as needed.)
Total Net Exemption $
5.PERSONAL PROPERTY USED FOR HOUSEHOLD OR PERSONAL PURPOSES NEEDED BY DEBTOR OR DEBTOR'S DEPENDENTS. (NCGS 1C-1601(a)(4). Debtor's aggregate interest, not to exceed $5,000 in value for the debtor plus $1,000 for each dependent of the debtor, not to exceed $4,000 total for dependents.)
Clothing & Personal
Kitchen Appliances
Stove
Refrigerator
Freezer
Washing Machine
Dryer
China
Silver
Jewelry
Living Room Furniture
Den Furniture
Bedroom Furniture
Dining Room Furniture
Lawn Furniture
Television
( ) Stereo ( ) Radio
Musical Instruments
( ) Piano ( ) Organ
Air Conditioner
Paintings & Art
Lawn Mower
Yard Tools
Crops
Animals
Other (
Total Net Value $
(a) Statutory allowance for debtor
5,000
(b) Statutory allowance for debtor's dependents:
dependents
at $1,000 each (not to exceed $4,000 total for dependents)
(c) Amount from 1(b) above to be used in this paragraph.
6. LIFE INSURANCE. (As provided in Article X, Section 5 of North Carolina Constitution.)
Name of Insurance Company
Policy No.
Name of Insured
Policy Date
Name of Beneficiary
7.PROFESSIONALLY PRESCRIBED HEALTH AIDS (FOR DEBTOR OR DEBTOR'S DEPENDENTS). (NCGS 1C-1601(a)(7). No limit on value of number of items.)
Description:
__________________________________________________________________________________
8.DEBTOR'S RIGHT TO RECEIVE FOLLOWING COMPENSATION: (NCGS 1C-1601(a)(8). No limit on number or amount.)
A.
Compensation for personal injury to debtor or to person whom debtor was dependent for support.
B.
Compensation for death of person of whom debtor was dependent for support.
C.
$ __________
Compensation from private disability policies or annuities.
9.INDIVIDUAL RETIREMENT PLANS AS DEFINED IN THE INTERNAL REVENUE CODE AND ANY PLAN TREATED IN THE SAME MANNER AS AN INDIVIDUAL RETIREMENT PLAN UNDER THE INTERNAL REVENUE CODE (NCGS 1C-1601(a)(9). No limit on number or amount.) AND OTHER RETIREMENT FUNDS
DEFINED IN 11 U.S.C. § 522(b)(3)(c).
Detailed Description
10.COLLEGE SAVINGS PLANS QUALIFIED UNDER SECTION 529 OF THE INTERNAL REVENUE CODE.
(NCGS 1C-1601(a)(10). Total net value not to exceed $25,000 and may not include any funds placed in a college saving plan within the preceding 12 months not in the ordinary course of the debtor’s financial affairs. This exemption applies only to the extent that the funds are for a child of the debtor and will actually be used for the child’s college or university expenses.
11.RETIREMENT BENEFITS UNDER A RETIREMENT PLAN OF OTHER STATE AND GOVERNMENTAL UNITS OF OTHER STATES, TO THE EXTEND THOSE BENEFITS ARE EXEMPT UNDER THE LAWS OF THAT STATE OR GOVERNMENTAL UNIT. (NCGS 1C-1601(a)(11). No limit on amount.)
12.ALIMONY, SUPPORT, SEPARATION MAINTENANCE AND CHILD SUPPORT. (NCGS 1C-1601(a)(12). No limit on amount to the extent such payments are reasonably necessary for the support of Debtor or dependent of Debtor.)
13.ANY OTHER REAL OR PERSONAL PROPERTY WHICH DEBTOR DESIRES TO CLAIM AS EXEMPT THAT HAS NOT PREVIOUSLY BEEN CLAIMED ABOVE. (NCGS 1C-1601(a)(2). The amount claimed may not exceed the remaining amount available under paragraph 1(b) which has not been used for other exemptions.)
(a) Total Net Value of property claimed in paragraph 13.
(b) Total amount available from paragraph 1(b).
(c) Less amounts from paragraph 1(b) which were
Used in the following paragraphs:
Paragraph 3(b)
Paragraph 4(b)
Paragraph 5(c)
Net Balance Available from paragraph 1(b)
14.OTHER EXEMPTIONS CLAIMED UNDER THE LAWS OF THE STATE OF NORTH CAROLINA:
Aid to the Aged, Disabled and Families with Dependent Children, NCGS 108A-36 Aid to the Blind, NCGA 111-18
Yearly Allowance for Surviving Spouse, NCGS 30-15
North Carolina Local Government Employees Retirement Benefits, NCGS 128-31 North Carolina Teachers and State Employees Retirement Benefits, NCGS 135-9 Firemen=s Relief Fund Pensions, NCGS 58-86-90
Workers Compensation Benefits, NCGS 97-21
Unemployment Benefits, so long as not commingled and except for debts for necessities purchased while unemployed, NCGS 96-17
Group Insurance Proceeds, NCGS 58-58-165
Partnership Property, except on a claim against the partnership, NCGS 59-55 Wages of a Debtor Necessary for Support of Family, NCGS 1-362
Other
TOTAL VALUE OF PROPERTY CLAIMED AS EXEMPT
15.EXEMPTIONS CLAIMED UNDER NON-BANKRUPTCY FEDERAL LAW:
Foreign Service Retirement and Disability Payments, 22 U.S.C. ' 1104 Social Security Benefits, 42 U.S.C. ' 407
Injury of Death Compensation Payments from War Risk Hazards, 42 U.S.C. ' 601 Wages of Fishermen, Seamen and Apprentices, 46 U.S.C. ' 601
Civil Service Retirement Benefits, 5 U.S.C. '' 729, 2265
Longshoremen and Harbor Workers Compensation Act Death and Disability Benefits, 33 U.S.C. ' 916
Railroad Retirement Act Annuities and Pensions 45 U.S.C. ' 228(L) Veterans Benefits, 45 U.S.C. ' 352(E)
Special Pension Paid to Winners of Congressional Medal of Honor, 38 U.S.C. ' 3101 Federal Homestead Lands, on Debts Contracted Before the Issuance of the Patent,
43 U.S.C. ' 175
16.RECENT PURCHASES
The exemptions provided in NCGS 1C-1601(a)(2), (3), (4), and (5) are inapplicable with respect to tangible personal property purchased by the debtor less than 90 days preceding the initiation of judgment collection proceedings or the filing of a petition for bankruptcy, unless the purchase of the property is directly traceable to the liquidation or conversion of property that may be exempt and no additional property was transferred into or used to acquire the replacement property.
List tangible personal property purchased by the debtor less than 90 days preceding the filing of the bankruptcy petition:
DATE:
Debtor
The North Carolina 91C form is a crucial document for debtors claiming property exemptions during bankruptcy proceedings. Understanding its components and requirements can significantly affect the outcome of a bankruptcy case.