NONEXEMPT PROPERTY
\nˌɒnɛɡzˈɛmpt pɹˈɒpəti], \nˌɒnɛɡzˈɛmpt pɹˈɒpəti], \n_ˌɒ_n_ɛ_ɡ_z_ˈɛ_m_p_t p_ɹ_ˈɒ_p_ə_t_i]\
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The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.
By Oddity Software
