What valuation standard applies to personal property in a North Carolina bankruptcy?
Federal replacement value as of the petition date under 11 U.S.C. 506(a)(2), without deducting costs of sale. For personal, family, or household items, that means the price a retail merchant would charge for goods of the same age and condition, not garage-sale value and not new-item retail.
Which forms claim North Carolina exemptions in a bankruptcy case?
Official Form 106C, plus local Form 91C in the Middle District for debtors who meet the North Carolina domicile test of 730 days before filing or the alternative lookback. The extra form is district-specific, so requirements differ across North Carolina's federal bankruptcy venues.
Does North Carolina limit exemptions on recently purchased property?
Yes. Exemptions under N.C.G.S. 1C-1601(a)(2) through (5) do not apply to tangible personal property bought within 90 days before the petition unless the purchase traces to proceeds of exempt property, a lookback that catches recently acquired vehicles, tools, and jewelry.
Do county tax values control what my property is worth in bankruptcy?
No. County appraisals under G.S. 105-317.1 exist for taxation and lean on cost-approach mass appraisal, while bankruptcy schedules use the federal replacement-value standard at the petition date. An independent appraisal aligned to that standard is what trustees and judges act on.