exemption lawglossary / EXEMPTION LAW exemption law. A law describing what property of a debtor cannot be attached by a judgment creditor or trustee in bankruptcy to satisfy a debt. See EXEMPT PROPERTY(1). [Cases: Exemptions 1; Homestead 1.] 词条贡献者 法律翻译晓琳,国际知名商学院金融专业,专注翻译各类与金融服务与投资管理有关的法律文件。