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What is exempt property?

April 26, 2017exempt Property

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What is exempt property?

6 Answers

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Exempt property is property that is protected by law from the claims of creditors. However, if exempt property has been pledged to secure a debt, the lien or mortgage holder may claim the exempt property by foreclosing on the mortgage. Your attorney can advise you in these matters.

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Exempt property consists of such items 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.

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Exempt property is property that is protected by laws from the claims of creditors. Read more…

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Exempt property is property owned by the debtor that is protected by law from the claims of creditors. Your attorney can inform you as to the property that is exempt in your case.

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Exempt property is property that is protected by law from the claims of creditors. Exempt property typically includes all or a portion of a person’s unpaid wages, home equity, household furniture and personal effects. Your attorney can inform you as to the property that is exempt in your case.