nonexempt property
Definition from Nolo’s Plain-English Law Dictionary
A debtor's property that can be taken by the trustee and sold for the benefit of the creditors in a Chapter 7 bankruptcy case, or can be seized by creditors if they win a judgment against the debtor. Compare: exempt property
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:20 pm
