WHICH PROPERTIES ARE EXEMPT FROM BEING INCLUDED IN THE PROCESS?

 In

This is governed by Section 82(6) of the Insolvency Act 24 of 1936. The specific properties that are exempt are:

1.Your clothes;
2.Bedding;
3.The whole or part of your household furniture, excluding luxury items;
4.Tools of your trade;
5.Other essential means of subsistence;
6.Property held in trust by the insolvent in his capacity as Trustee
(protected by S12 of the Trust Property Control Act 57 of 1988);
7.Life-insurance policies;
8.Pension benefits;
9.Compensation for loss or damage suffered because of defamation or personal injury;
10.Your salary or wages earned after sequestration, in so far as such money is needed for the support of the insolvent and his dependants.

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