Assertion: bankruptcy's property | /r/HasProperty | exempt
Facets:
value: under the law
type: OTHER
value: from the bankruptcy estate
type: LOCATION
value: from bankruptcy proceedings
type: OTHER
value: in basic terms
type: OTHER
value: exactly
type: DEGREE
value: in bankruptcy
type: LOCATION
Source sentences:
text: (To learn about exemptions and particular types of property, see What Property Is Exempt in Bankruptcy?)
text: In exchange, the debtor agrees that the bankruptcy trustee—the individual responsible for overseeing the case—can sell certain property, called nonexempt property.
text: Learn what property is exempted.
text: If the property is nonexempt, the trustee is entitled to sell it to pay your unsecured creditors.
text: Chapter 13 bankruptcy is normally chosen by people who want to keep their non-exempt property intact or buy time against foreclosures or property seizures.﻿﻿
text: All other property is considered nonexempt, and may be sold by the bankruptcy trustee to at least partially repay your creditors.
text: Property that cannot be exempted is, appropriately, called "non-exempt" property.
text: The property that you're allowed to keep in a bankruptcy case is called exempt property.
text: The property that is not exempt is called your nonexempt assets.
text: Property that is not covered by an available bankruptcy exemption is considered a non-exempt asset and may be sold by the bankruptcy Trustee in a Chapter 7 bankruptcy case.
text: Thus, whether certain property is exempt and may be kept by the debtor is often a question of state law.
text: Most property owned by Chapter 7 debtors is either exempt or is essentially worthless for purposes of raising money for the creditors.
text: Exactly which property can be exempt, and in what amount, depends on the laws in your state.
text: : The trustee can litigate the debtor’s right to claim an exemption (a debtor can protect property that is exempt under the law).
text: In basic terms, any property the debtor might require to survive can be exempt.
text: In determining whether property is exempt, you must keep a few things in mind.
text: If the property is exempt under federal or state law, you get to keep it.
text: Property that is exempt can't be sold for the benefit of your unsecured creditors.
text: You get to keep property that is exempt.
text: Despite its fearsome moniker as a “liquidation bankruptcy,” Chapter 7 allows the debtor to keep any property that is exempt from bankruptcy proceedings.
text: What property is and is not exempt from the bankruptcy estate is dependent on both federal and state bankruptcy law.
text: If the property is exempt, you can keep it during and after bankruptcy.
text: In determining whether property is exempt, you must keep a few things in mind.
text: In determining whether property is exempt, you must keep a few things in mind.
text: Based on the bankruptcy law, certain property is exempt from being sold to repay your creditors, while other property is not exempt.
text: Property that is exempt can generally be called the "necessities of modern life.
text: The bankruptcy trustee—the official tasked with managing your case—will sell the remaining property, called “nonexempt property,” for the benefit of your creditors.