Property that the Bankruptcy Code specifically allows an individual debtor to retain and is not used for distribution to creditors in the bankruptcy. Exempt property can be both real property and personal property including a family home, furniture, clothing, kitchen items, vehicles, tools of trade, current wages, child support, and alimony. The type and amount of property that a debtor can exempt depends on the state where the individual debtor files for bankruptcy.

For more information on exempt property, see Practice Note, Bankruptcy Exemptions for Individual Debtors: Overview.