________ property may be retained by a debtor pursuant to federal and state law that does not become part of the bankruptcy estate.

Question

Quizplus · Accepted Answer

The term "exempt property" refers to property that is protected from being liquidated to pay off debts during bankruptcy. It is a specific category of property that is allowed to be kept by the debtor. Exempt property is determined by both federal and state law, and the rules can vary depending on the debtor's jurisdiction.

________ Property May Be Retained by a Debtor Pursuant to Federal