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NONEXEMPT PROPERTY

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

The property that is at risk to be lost to creditors when filing a Chapter 7 bankruptcy or when a judgment is entered against a debtor. Nonexempt property usually includes luxury items such as expensive automobiles, valuable jewelry and clothing (fur coats), items which are subject to loss when not paid off. Compare exempt property.

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