Q: Is multimedia (music CDs, vinyl records, DVDs) and electronic devices to play them exempt up to $15K? Pls advise.
It's my current understanding that electronic devises that play multimedia items are exempt within the $15K max limit for the Electronics category, but I'm not sure about the multimedia items themselves (CDs (compact discs), vinyl records, DVDs). One source said that the multimedia items are considered as hobby items and therefore they are not exempt. This seems illogical to me, if indeed the electronic devices that play the multimedia items are exempt, as the equipment that plays the multimedia items is not very useful and does not do what it was intended to do without the multimedia content. Another source did say a music collection is exempt with the electronic devices, so there seems to be a differing of views.
Please advise.
Thank you much, and have a great day.
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A:
In Arizona, the exemption laws for bankruptcy can be complex and may vary based on interpretations. For electronic devices that play multimedia, there is an exemption up to $15,000 under the Electronics category. This covers items like CD players, vinyl record players, and DVD players.
However, the multimedia items themselves, such as CDs, vinyl records, and DVDs, are typically categorized as hobby items and may not be exempt under the same category. This can seem contradictory, as the devices without their media content are not fully functional.
Given the differing views and interpretations, it would be beneficial to consult with a legal expert in Arizona bankruptcy law to get clarity specific to your situation. They can provide guidance based on the most current laws and ensure you are making the best decisions regarding your assets.
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