Bankruptcy Exemptions in New Brunswick: What Do You Get To Keeep in Bankruptcy in NB

Memorials and Executions Act

Statute: Click here to read the statute

Exempt Property

1. the furniture, household furnishings and appliances reasonably necessary for the debtor and his family.
2. the necessary and ordinary wearing apparel of the debtor and his family.
3. all necessary food and fuel for the debtor and his family for three months.
4. two horses and sets of harness, two cows, ten sheep, two hogs and twenty fowl, and food therefore for six months.
5. any tools, implements and necessities used by the debtor in the practice of his trade, profession or occupation having a cumulative market value of not more than $6,500
6. one motor vehicle having a market value of not more than $3,000, if required by the debtor in the course of or to retain employment or in the course of and necessary to his trade, profession or occupation.
7. seed grain and potatoes required for seeding and planting purposes to the following quantities: forty bushels of oats, ten bushels of barley, ten bushels of buckwheat, ten bushels of wheat and thirty-five barrels of potatoes.
8. dogs, cats, and other domestic animals belonging to the debtor.
9. medical or health aids reasonably necessary to enable the debtor or any member of his family to work or to sustain health.
10. certain government annuities.

What do I do now?

For more information on exemptions in bankruptcy in New Brunswick, and what assets you can keep if you go bankrupt in New Brunswick, please consult a New Brunswick bankruptcy trustee.