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Simple English definitions for legal terms

exemption law

Read a random definition: R.G.

A quick definition of exemption law:

An exemption law is a law that protects certain property of a person who owes money from being taken away by someone they owe money to. This property is called exempt property and includes things like a person's home and household items. The purpose of this law is to make sure that people don't lose everything they own when they owe money. When someone dies, their surviving spouse is automatically entitled to receive certain personal property from the deceased's estate.

A more thorough explanation:

Definition: Exemption law refers to a law that specifies which property of a debtor cannot be taken by a creditor or trustee in bankruptcy to pay off a debt. This property is known as exempt property.

Exempt Property: Exempt property is the property that a creditor cannot take away from a debtor to pay off a debt. This is because the law protects certain types of property from being seized by creditors. For example, many states have a homestead exemption that protects a person's house and household items up to a certain amount from being taken by creditors. The purpose of this exemption is to prevent debtors from becoming destitute.

Examples: If a person owes money to a creditor, the creditor cannot take away their house or household items that are protected by the homestead exemption. Similarly, if a person dies and leaves behind personal property, their surviving spouse is automatically entitled to receive certain items from the estate, which is an example of exempt property.

Explanation: These examples illustrate how exemption law protects certain types of property from being taken by creditors or trustees in bankruptcy. The homestead exemption ensures that a person's home and household items are protected from being seized by creditors, while the exemption for surviving spouses ensures that they receive certain personal property from the estate of their deceased spouse.

exemption equivalent | ex empto

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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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