What is CLAIM OF EXEMPTION?

the right that is given by a judicial process to a debtor who can retain certain personal property that is free from seizure by creditors.

More On This Topic
  1. Mortgage Law: Judicial vs. Non-Judicial Foreclosure
  2. Marijuana: Recreational, Grow, & Medical Laws By State 2020
  3. Filing a Creditor’s Proof of Claim in Bankruptcy Court
  4. Squatter’s Rights & Adverse Possession: What You Need To Know
  5. Six Bad Faith Tactics Used by Insurers
  6. How To Find Out Who Owns A Property
  7. What happens if I get a raise at work during a bankruptcy?
  8. How long do I have to live in my house after filing bankruptcy?
  9. Privacy Laws: Why It Matters, What To Do, & Important FAQs
  10. A Guide to the Types & Classes of Bankruptcy

Related Legal Terms
EXEMPTION, WAIVER OF EXEMPTION, DEPENDENCY EXEMPTION, EXEMPTION CLAUSE, EXEMPTION PHASEOUT, HOMESTEAD EXEMPTION, EXEMPTION FROM SERVICE OF PROCESS, CLAIM, V, THIRD PARTY CLAIM, ELECTRICAL OR ELECTRICAL APPARATUS EXEMPTION CLAUSE


Link to This Definition
Did you find this definition of CLAIM OF EXEMPTION helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary