Bankruptcy Exemptions in Nunavut: The Assets You Get to Keep If You Go Bankrupt in NU

Exemptions Act

Statute: Read the Exemptions Act

Exempt Property

1. household furniture, utensils and equipment that are contained in and form part of the permanent home of a debtor not exceeding $200.
2. necessary and ordinary clothing of the debtor and the family of the debtor.
3. food, fuel and other necessaries of life required by the debtor and the family of the debtor for the next 12 months.
4. livestock, fowl, bees, books, tools, implements and other chattels not exceeding $600, necessary to and actually used by the debtor in his or her business, profession or calling.
5. the house and buildings occupied by the debtor and the lot on which they are situated, not exceeding $3,000.

The above exemptions do not apply:

1. where the debtor has absconded or is about to abscond from the Territories leaving no spouse or family in the Territories.
2. to a writ of execution issued on a judgment or order for the payment of support, or a judgment on a domestic contract, as defined in the Family Law Act.