Judgment and Execution Act
Statute: Click here to read the Statute
- the necessary and ordinary clothing of the debtor and his family.
- any motor vehicle owned by the debtor not exceeding $3,000 in value,
except to satisfy all or any part of a fine the payment of which is in default under the Summary Proceedings Act
- the household furniture, utensils, equipment, food and fuel that are contained in and form part of the permanent home of the debtor, not exceeding $2,000 in value.
- in the case of a debtor other than a farmer, tools, instruments and other chattels ordinarily used by the debtor in his business, trade or calling, not exceeding $2,000 in value.
- livestock, fowl, agricultural machinery and equipment ordinarily used by the debtor in his farm operation, not exceeding $5,000.
- sufficient seed to seed all his land under cultivation not exceeding 100 acres.
What do I do now?
For more information on bankruptcy exemptions in Prince Edward Island, and what you get to keep if you go bankrupt in Saskatchewan, please consult a PEI bankruptcy trustee.