Exemptions are used to protect real and personal property of a debtor from being seized and sold by either a creditor or the bankruptcy trustee to be liquidated to pay debts. Determination of what exemptions are available will vary from state to state.
All property is subject to taxation, unless specifically exempted under state law. Exemptions exist for nonprofit organizations, senior citizens, heads of household (personal property only), historical property and the remodel exemption.
Property that may be kept by you and not included in the estate for sale. Exemptions are contained in both state and federal law and you will have to choose whether you use the federal or state exemptions. Exemptions include equity in your home, car, and other personal items. Dollar figures that can be claimed for each item vary by state and federal law as does the total in exemptions that can be claimed.
Exemptions are lists of the types of property that is protected by law from your creditors, and the bankruptcy Trustee. Each state has its own list of exempt property. There is also a list of exempt property under federal statutes. The types and values of exempt property differ greatly from state to state.
properties that are exempt from local taxation by state law. Various types of exemptions are allowed in Colorado pursuant to Colorado Revised Statutes.
Federal and state laws protecting property of the debtor from being taken in a bankruptcy.
This refers to assets or properties owned by the debtor that cannot be recovered by creditors.
Certain property belonging to the debtor is allowed to be excluded from the bankruptcy. The Bankruptcy Code sets forth guidelines where property can be exempted. This means the debtor is allowed to keep certain property in order to have a "fresh start." The Bankruptcy Code also sets forth provisions allowing each state to create their own exempts. The debtor usually has the option to choose which exemptions will be followed: the exemptions designed by the state in which he or she resides or the federal exemptions set forth in the Bankruptcy Code.
Rules that allow you to keep certain property even though you are declaring bankruptcy. Common examples of exempt property include you house, car, clothing, and household goods. Debtors can generally choose either federal or state exemptions depending on which is more beneficial in their particular situation. Exemptions, especially under the new law, can be very complex. Your lawyer can help you figure out which exemptions are most beneficial for your situation.
Under the Court Order Enforcement Act (in British Columbia), there are certain assets that are exempt form seizure by an execution creditor or by a Trustee in Bankruptcy.
a privilege allowed by law to a judgment debtor by which a certain amount or class of property is protected from sale to satisfy a judgment against the debtor.
Exemptions are properties that are exempt from local taxation by state law. They are required to file a form that must be reviewed by the local assessor.
Laws that are used by attorneys to exempt and protect the debtor's property.
Exemptions is a word to describe an assessment reduction where legally warranted. There are many types of exemptions, these including but not limited to veterans exemptions, senior exemptions, industrial development agency exemption and local authorized exemptions under state law.
Freedom from the property tax granted to the property in recognition or because it is taxed either directly or indirectly by other means. In essence, an exemption is a reduction in the property tax base. Various types of exemptions allowed in Colorado pursuant to Colorado Revised Statutes. According to Colorado Revised Statutes, all property in Colorado is taxable unless specifically exempt by statute.
A list of the kinds and values of property that each state allows debtors to keep that is beyond the reach of the trustee and creditors.
Another term for withholding allowances from Federal income tax.
Property belonging to the debtor that is excluded from the bankruptcy according to the guidelines set forth by both the Bankruptcy Code and the Wisconsin State Statutes.
Exemptions are lists of the kinds and values of property that is legally beyond the reach of creditors or the bankruptcy trustee. What property may be exempted is determined by state and federal statutes, and varies from state to state.
Federal code permits some research activities that are less than minimal risk and that fall into any of six federally mandated categories to be exempted from continuing review of the IRB. The PI must still submit an application to the Office of Research Compliance for exemption certification.