When a permanent is exiled, it leaves the battlefield entirely. Any Auras attached to it are immediately put into their owners' graveyards as a state-based action, because an Aura that is not attached to anything it legally enchants cannot remain on the battlefield (CR 704.5m).
When the exiled permanent returns to the battlefield, it is considered a brand-new object with no connection to its previous existence (CR 400.7). It does not 'remember' any Auras, Equipment, or counters it had before. The Auras that went to the graveyard stay there; they do not automatically re-attach.
There is one important exception: some cards that exile a permanent and return it use the phrasing 'return it to the battlefield with' or instruct you to move Auras or counters as part of the effect. In those cases, the card's own instructions override the default rules. But absent such specific text, the default applies.
Example: Your creature has Curious Obsession attached to it. Your opponent casts Teferi's Time Twist, exiling your creature. Curious Obsession is immediately put into your graveyard (state-based action). When your creature returns at the beginning of the next end step, it comes back clean — Curious Obsession remains in the graveyard.
Key rules: CR 400.7 (objects changing zones lose previous identity), CR 704.5m (unattached Auras go to graveyard as a state-based action), and CR 303.4c (Aura must be attached to something it can legally enchant).
Unofficial fan resource — not affiliated with or endorsed by Wizards of the Coast. Answers are AI-generated estimates grounded in the Comprehensive Rules and are not a substitute for an official judge. Verify anything match-critical.