What Happens If an Exemption Filed in Court by a Debtor

question 7

Multiple Choice

What happens if an exemption filed in court by a debtor is limited to a certain amount of money?

• A) The debtor will lose his entire exemption if the property is valued over the designated amount.
• B) An appraiser assesses the value of the property claimed by the debtor as an exemption.
• C) The debtor has the burden of proving the value of the exempt property.
• D) The creditor has the burden of proving the value of the exempt property.
• E) The value of the exempt property is determined based on the original purchase price.

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