Real estate not subject to property taxes. Religious, educational and charitable organi-zations generally hold exempt property.
Property that has been protected by bankruptcy exemptions which is removed from the bankruptcy estate and is not available to be liquidated to pay the claims of creditors.
Tangible property acquired in whole or in part with Federal funds, where the Federal awarding agency has statutory authority to vest title in the recipient without further obligation to the Federal Government. An example of exempt property authority is contained in the Federal Grant and Cooperative Agreement Act (31 U.S.C. 6306), for property acquired under an award to conduct basic or applied research by a non-profit institution, or higher education, or non-profit organization whose principal purpose is conducting scientific research.
In a bankruptcy, you must assign all your assets to the trustee, except for exempt property (such as basic furniture, tools-of-trade and, under certain circumstances, the goods and services tax credit payments). Exempt property will vary from province to province. Your trustee can tell you what these are.
Property of the debtor that is protected by law from being taken by creditors in a bankruptcy.
Property that is exempt is not available to pay the claims of creditors. The debtor gets to keep exempt property for use in making a fresh start after bankruptcy.
Property removed, by a debtor's claiming same as a right under law, from inclusion in a bankruptcy estate.
Real property not subject to taxation. Typically, exempt property is owned by federal, state or local branches of government, and religious or educational institutions.
In bankruptcy proceedings, this refers to certain property protected by law from the reach of creditors.
Property that you are allowed to keep if a creditor, business, or individual obtains a judgment against you; you're also allowed to keep exempt property when you file bankruptcy.
Estate property which is not subject to probate proceedings.
Property that can not be taken to pay off a debt.
Property that is not subject to taxation, e.g., churches and universities.
Property in value not exceeding $10,000 in excess of any security interests in household furniture, automobiles, furnishings, appliances and personal effects to which a surviving spouse is entitled from the estate. This property is protected from creditors and devisee claims.
If someone dies while living in Hawaii, the surviving spouse (or surviving children) is entitled to exempt property (household furnishings, appliances, cars, personal effects) in the amount of $10,000. The right to exempt property has priority over all claims except claims for homestead allowance and family allowance.
All the property of a debtor that cannot be attached under the Bankruptcy Code or state law.
Property or value in property that a debtor is allowed to retain, free from the claims of creditors who do not have liens.
A debtor's assets or property that a creditor cannot, by law, attach to satisfy a debt.
property which cannot form part of a bankruptcy lawsuit – usually work related property, such as the tools needed for work
Exempt property, under the law of property in many jurisdictions, is property that can neither be passed by will nor claimed by creditors of the deceased in the event that a decedant leaves a surviving spouse or surviving descendants. Typically, exempt property includes a family car, and a certain amount of cash (perhaps $10,000-$20,000), or the equivalent value in personal property.