exempt property
Definition
Property that cannot be claimed by creditors or forfeited in bankruptcy. Exempt property may include clothing, furniture, items needed by the owner for their occupation, or other possessions necessary for the normal activities of living, and may also include some portion of home or automobile equity as determined by the courts.
Related Articles
- Deciding Whether Your Nest Egg is Big Enough *
- The Federal Reserve Board of Governors *
- What Does It Mean To Corner The Market? *
- Understanding Sales Tax *
- Water Cooler Advice vs. A Financial Planner... No contest *
- Disadvantages of Mutual Funds *
- How to Set Up a Budget *
- Planning to Retire? Don't Count On Social Security Alone *
Related Videos
http://www.businessdictionary.com/definition/exempt-property.html
