nonexempt assets

Definition of "nonexempt assets"
  1. Properties owned by a debtor that can be converted to cash to pay off debt owed to creditors
How to use "nonexempt assets" in a sentence
  1. Samuel's luxurious villa and sports car were deemed nonexempt assets during bankruptcy proceedings.
  2. During the debt settlement, Anna was worried about losing her nonexempt assets.
  3. The court ordered Brian to sell his nonexempt assets to repay his loan creditors.
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