Manitoba: MB Bankruptcy Exemptions. Assets you keep in a Bankruptcy or a Proposal.

The property exempt from seizure is set by the provinces and territories and applies to the equity in the asset.

Equity is the excess that the value of an asset has over any charges or encumbrances against that asset.

For example, if you have tools used in your trade or profession worth $10,000 and there is a $3,000 secured debt against them then the equity in the tools is $7,000. In Manitoba the exemption for tools used in your trade or profession is $7,500 so in this example you are entitled to the equity of $7,000 and the unsecured creditors cannot take this.

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  •  Furniture, household furnishings and appliances not exceeding total value of $4,500;
  • One motor vehicle, if necessary for work or transportation to and from work, not  exceeding $3,000 in value;
  •  Actual residence of the bankrupt, equity of $1,500 each if in  joint tenancy, or $2,500 if not in joint tenancy;
  • Tools, implements, professional books and other necessaries  not exceeding a total value of $7,500 used in practice of  trade, occupation or profession;
  •  Necessary and ordinary clothing of the debtor and family;
  • Health aids, including wheelchair, air conditioner, elevator, hearing aid, eye glasses, prosthetic or orthopaedic equipment, necessary to debtor or family;
  • RRSPs, Registered Retirement Income Funds (RRIFs) and Deferred Profit Sharing Plans (DPSPs).
  • Certain life insurance policies;
  •  Food and fuel necessary to family for period of six months or cash equivalent.




If debtor is a farmer:

    • animals necessary for farming operation for 12 months;

    • farm machinery, dairy utensils and farm  equipment necessary for ensuing 12 months;

    • one motor vehicle if required for purposes of agricultural operations.

    • Any 160 acres of farm land upon which the debtor or his family resides, or which he cultivates or uses for grazing or other purposes, as well as all the buildings thereon;

    • Seed sufficient to seed all land of debtor under cultivation;

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