Exempt personal property definition

Exempt personal property means personal property exempt from the collection of taxes under this act, including personal property exempt under sections 7 to 7xx and sections 9 to 9o.
Sample 1Sample 2Sample 3

Examples of Exempt personal property in a sentence

  • Exempt personal property under such provisions as the court may direct, if not set off to the surviving spouse, may be sold, mortgaged, pledged, leased, or exchanged, provided that the surviving spouse consents thereto.

  • Exempt personal property aids are payments by the State to reimburse municipalities for lost personal property tax revenue.

  • Exempt personal property now includes household goods like furniture, business and agricultural inventories, and intangible assets like stocks, bonds and bank accounts.

  • Exempt personal property includes: inventories, special tools, and air and water pollution control equipment.

  • Exempt personal property under such provisions as the court may direct, if not set off to the surviving spouse, may be sold, mortgaged, pledged, leased, or exchanged, provided that the surviving spouse consents thereto.3. The homestead, under such provisions as the court may direct, if not set off to the surviving spouse and if the surviving spouse has not elected to occupy the homestead, may be sold, mortgaged, pledged, leased or exchanged.

Related to Exempt personal property

  • Eligible personal property means property that meets all of the following conditions:

  • Excluded Property shall have the meaning set forth in the Security Agreement.

  • Real Property means, collectively, all right, title and interest (including any leasehold estate) in and to any and all parcels of or interests in real property owned in fee or leased by any Loan Party, whether by lease, license, or other means, together with, in each case, all easements, hereditaments and appurtenances relating thereto, all improvements and appurtenant fixtures and equipment, incidental to the ownership, lease or operation thereof.

  • Exempt Person means the Company, any subsidiary of the Company, any employee benefit plan of the Company or any subsidiary of the Company, and any Person organized, appointed or established by the Company for or pursuant to the terms of any such plan.