Under the 2005 bankruptcy act, if non-exempt personal property of an individual debtor secures a claim or is subject to an unexpired lease, the debtor ________.
A) must surrender the property
B) can appeal for exemption of the property
C) must terminate the lease with immediate effect
D) cannot redeem the property

Question

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Under the 2005 bankruptcy act, if non-exempt personal property of an individual debtor secures a claim or is subject to an unexpired lease, the debtor must surrender the property. This is part of the act's provisions to ensure that secured creditors can recover the value of their collateral.

Under the 2005 Bankruptcy Act, If Non-Exempt Personal Property of an Individual