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New York Bankruptcy
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New York Bankruptcy Exemption
Homestead:
Property owned and occupied as principle residence which includes the land, shares in cooperative condominium units are exempted up to the extent of $ 10,000. Household goods: All stoves and & 60-days’ fuel, sewing machine & appurtenances, family bible and pictures; school books, church pew, crockery, pets, food to last 60 days, furniture, refrigerator, TV, radio, wedding ring, tableware, crockery, cooking utensils of debtor and family. Books: Books in family library are exempted up to the extent of $50. Automobile: One motor vehicle worth up to the extent of $ 2400. Pets: Domestic animals plus 60 days feed. Watch: One watch worth up to $ 450. Professional tools and books: Necessary tools of trade & professional instruments, furniture and books are exempted up to the extent of $ 600. Injury: Payments on account of bodily injury of debtor or person of whom debtor was a dependent are exempted up to the extent of $ 7,500. Tax Refunds: Cash, US savings bonds and tax refunds of debtor’s not using homestead exemption under CPLR are exempted up to the extent of $ 2,500 or $ 5,000 less amounts exempted under CPLR and for certain annuities. WHICH EVER IS LESS Disability Insurance Benefit: Absolute exemption for lump sum payments and absolute exemption and $ 400 per month of periodic payments. Alimony & Maintenance: Alimony, support or separate maintenance exempted up to the reasonable extent which is required. Annuity contract benefits: Annuity contract benefits are exempted up to a reasonable extent. Total or Absolute Exemptions for:
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