Quebec Bankruptcy Exemptions

Property You Can Keep When Going Bankrupt

Quebec bankruptcy exemptions list the equity in assets you can retain when making a consumer proposal or filing bankruptcy.

For example, if you have furnishings worth $10,000 and there is a $4,500 secured debt owed on the furnishings then the equity in those furnishings is $5,500.

In Quebec the exemption for furnishings is set as $6,000 and therefore you are entitled to the equity of $5,500 and you are able to keep these furnishings if you go bankrupt or make a proposal.

Personal Bankruptcy Exemptions in Quebec:

  • The movable property which furnishes his main residence, used by and necessary for the life of the household, up to a market value of $6,000 established by the seizing officer;
  • The food, fuel, linens and clothing necessary for the life of the household;
  • Food, lodging, and transportation passes received for employment travel;
  • Principal residence: $10,000;
  • Motor vehicle: no dollar limit;
  • The instruments of work needed for the personal exercise of his professional activity;
  • Family papers and portraits, medals and other decorations;
  • Property declared by a donor or a testament to be exempt from seizure except in certain cases;
  • Judicially awarded support and sums given or bequeathed as support;
  • Support received through court order, donation, or bequest;
  • Benefits payable under a supplemental pension plan to which an employer contributes on behalf of his employees, other amounts declared un-seizable by an Act governing such plans and contributions paid or to be paid into such plans;
  • Items used in religious worship;
  • Income for services as a minister of religion;
  • Periodic disability benefits and expense reimbursements under a contract of accident and sickness insurance;
  • Tools of your trade: no dollar limit;
  • Disability aids, accident benefits: no dollar limit;
  • Property of a person that he requires to compensate for a handicap;
  • RRSPs, Registered Retirement Income Funds (RRIFs) and Deferred Profit Sharing Plans (DPSPs);
  • A certain portion of salaries and wages based on the number of dependants.

* Nevertheless, the property referred to in first and third items above may be seized and sold by a creditor holding a hypothec thereon.

From Quebec’s Code of Civil Procedure.


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