nonexempt property

nonexempt property definition - business

nonexempt property

Personal property that may be lost in a Chapter 7 bankruptcy or to a lender who wins a court judgment. Compare exempt property.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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