The property you can keep after bankruptcy. An exemption limit means that any equity above the limit is 'non-exempt'.
Equity is the difference between the value of the property and what is owed on the property.
To keep non-exempt property, a debtor must generally pay the trustee the value of the non exempt property to be distributed to creditors. Bankruptcy law allows married couples filing jointly to each claim a full set of exemptions doubling the exemptions. Unless otherwise noted in the following exemption list, married couples may double the exemption amount given.