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Simple English definitions for legal terms

property of the debtor

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A quick definition of property of the debtor:

Property of the debtor: This refers to things that belong to someone who owes money (called a debtor). It includes things they own or have, like a house or car, that can be used to pay back the money they owe. Sometimes, some things are protected and cannot be taken away to pay debts.

A more thorough explanation:

Definition: Property of the debtor refers to the assets that are owned or possessed by the debtor, including those that are exempted from the bankruptcy estate.

Examples: Examples of property of the debtor include:

  • A house or a car that the debtor owns
  • Money in the debtor's bank account
  • Investments or stocks that the debtor possesses
  • Personal belongings such as jewelry, furniture, and electronics

These examples illustrate that property of the debtor can refer to a wide range of assets that the debtor owns or possesses. In the context of bankruptcy, these assets may be used to pay off the debtor's debts or may be exempted from the bankruptcy estate, depending on the specific laws and regulations in place.

property insurance | property of the estate

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HopefullyInLawSchool
16:06
it means you will not be rejected today and may be accepted or WL in the future
Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
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