Bankruptcy Exemptions in British Columbia

Court Order Enforcement Act

Statute: Click here to read the Statute
Regulation: Click here to read the Regulations

Exempt Property

1. necessary clothing of the debtor and the debtor's dependants;
2. household furnishings and appliances that are of a value not exceeding $4,000;
3. one motor vehicle that is of a value not exceeding $5,000 if the debtor is not a maintenance debtor under the Family Maintenance Enforcement Act and $2,000 if the debtor is a maintenance debtor;
4. tools and other personal property of the debtor, not exceeding $4,000, that are used by the debtor to earn income from the debtor's occupation; and
5. medical and dental aids that are required by the debtor and the debtor's dependants.

Principal residence of debtor

The principal residence of a debtor is exempt if the value of the debtor's equity in the principal residence does not exceed:

1. $12,000 if the debtor is a person whose principal residence is located within the boundaries of the Capital Regional District or the Greater Vancouver Regional District.
2. $9,000 if the debtor is a person whose principal residence is located outside the boundaries of the Capital Regional District or the Greater Vancouver Regional District.

For more information on what properties you get to keep if you go bankrupt in British Columbia, and more details on bankruptcy exemptions in British Columbia, please consult a British Columbia bankruptcy trustee.