Connecticut General Statutes 52-352a – Definitions for exempt property provisions
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As used in this section and sections 52-352b and 52-353:
Terms Used In Connecticut General Statutes 52-352a
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(1) “Value” means fair market value of the exemptioner’s equity or unencumbered interest in the property;
(2) “Necessary” means reasonably required to meet the needs of the exemptioner and his or her dependents including any special needs by reason of health or physical infirmity;
(3) “Exempt” means, unless otherwise specified, not subject to any form of process or court order for the purpose of debt collection;
(4) “Exemptioner” means the natural person entitled to an exemption under this section or section 52-352b;
(5) “Homestead” means owner-occupied real property, co-op or mobile manufactured home, as defined in subdivision (1) of section 21-64, used as a primary residence.