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As an opt-out state, the Montana exempt property and homestead laws
are available to all people filing Chapter 7, while election of the federal
allowance set forth in Section 522 of the Code is not allowed. Declaring
these exemptions requires formal disclosure in the official form schedule H,
which must cite legal authority for each item claimed.
After filing, debtors should expect questions regarding their Montana
bankruptcy exemptions, property owned that is not claimed, and inquires
about the disposition of other assets during the one year before filing.
The trustee places all debtors under oath during the 341 meeting while
asking these questions, and also permits any interested creditor to
depose debtors while under oath. Testimony during the 341 meeting may be
offered into evidence before the court.
See also: Montana Homestead Exemption.
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