"Asset" defined
Sec. 2. (a) As used in this chapter, "asset" means property of a
debtor.
(b) The term does not include any of the following:
(1) Property, to the extent the property is encumbered by a valid
lien.
(2) Property, to the extent the property is generally exempt
under law other than federal bankruptcy law.
(3) An interest in property held in tenancy by the entireties to
the extent the interest is not subject to process by a creditor
holding a claim against only one (1) tenant.
As added by P.L.2-2002, SEC.3.
Last modified: May 24, 2006