MLchartDataset catalogue

Exempt property

Term · Law · MLC-T-LAW-001980

Assets or income that are protected by law from seizure by creditors or from being included in a bankruptcy estate. These exemptions are designed to allow debtors to retain basic necessities. State and federal laws specify which types and amounts of property are exempt, such as a portion of a homestead or certain retirement accounts.

Table 1. Record
IdentifierMLC-T-LAW-001980
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001980",
  "term": "Exempt property",
  "field": "Law",
  "definition": "Assets or income that are protected by law from seizure by creditors or from being included in a bankruptcy estate. These exemptions are designed to allow debtors to retain basic necessities. State and federal laws specify which types and amounts of property are exempt, such as a portion of a homestead or certain retirement accounts.",
  "url": "https://mlchart.com/terminology/law/exempt-property/"
}

Record 1,879 of 5,445 in Law terminology (MLC-0107). Request the full dataset.