"Florida Property Exemptions"
Certain property is exempt from forfeiture and liquidation for payment of unsecured debts. Debtors in Florida 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." |
The Florida Bankruptcy Court for the Southern District issued Administrative Order No. 04-6
on March 31, 2004. This order pertains to proposed amendments to local rules. In particular, this order requires
an en banc hearing (all judges present) to consider public comments. anyone who wishes to have personal comments
considered by the court must submit proposals in writing. Anyone wishing to address the court must file a
request for appearance. The Florida Bankruptcy Court for the Middle District amended Local Rule 5005-1 on
September 15, 2003. This amendment states” The Court shall permit documents and papers to be filed, signed, or
verified by electronic means that are consistent with technical standards, if any, that the Judicial Conference
of the United States establishes.” Soon, all courts will require electronic submission.
Back to Florida Bankruptcy words & phrases.
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