EXEMPT PROPERTY
exempt property: translation
- exempt property
-
Property or value in such property that is removed from the bankruptcy estate after having been properly declared as exempt in the bankruptcy schedules without any objection thereto (SA-Bankruptcy.com)
Property or value in property that a debtor is allowed to retain, free from the claims of creditors who do not have liens. (BankruptcyAction.com)
Property or value in property that a debtor is allowed to retain, free from the claims of creditors who do not have liens. (California Bankruptcy Dictionary)
United Glossary of Bankruptcy Terms2012.