1. Property that is legally free from taxation or other obligations, typically due to its use or status
Churches and schools are often considered exempt property.
Igrejas e escolas são frequentemente consideradas propriedades isentas.
2. Real estate or personal property protected from creditors' claims under bankruptcy or insolvency laws
The homeowner's primary residence qualified as exempt property in the bankruptcy proceedings.
A residência principal do proprietário foi classificada como propriedade isenta nos procedimentos de falência.