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Bankruptcy Code
A federal code consisting of statutes governing the process of legal insolvency in the United States, designed to resolve cases of individuals or entities that can no longer meet their financial obligations.
Liquidation
The process of converting assets into cash, often associated with dissolving a business and distributing its assets to claimants.
Homestead Cap
The homestead cap is a legal provision that limits the annual increase in valuation of a homestead property for property tax purposes.
Aggregate Interest
The total amount of interest payable or receivable over the life of a loan or investment.
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