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New York Homestead Laws

Homestead protection laws protect homeowners and other small property owners from being left homeless during times of economic strife. Specifically, homestead laws allow individuals to declare a portion of their property as "homestead" and therefore mostly off-limits to creditors.

Under the New York homestead law, the amount property owners may declare exempt varies based on county location and range from $75,000 to $150,000. The table below highlights the basic provisions of New York's homestead protection laws. See Bankruptcy Exemptions: Chapter 7 for more information.

Code Section Civ. Prac. L. & R. §5206
Max. Property Value That May Be Designated 'Homestead'

$150,000 (Kings, Queens, New York, Bronx, Richmond, Nassau, Suffolk, Rockland, Westchester, Putnam counties

$125,000 (Dutchess, Albany, Columbia, Orange, Saratoga, Ulster counties)

$75,000 (all other counties)

Maximum Acreage (Urban) -
Maximum Acreage (Rural) -

Note: State laws are constantly changing -- contact a New York bankruptcy attorney or conduct your own legal research to verify the state law(s) you are researching.

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