N.Y. CPLR § 5206

NEW YORK CIVIL PRACTICE LAW AND RULES (CPLR) New York State | For Informational Purposes Only CPLR § 5206 Real property exempt from application to the satisfaction ofmoney judgments § 5206. Real property exempt from application to the satisfaction ofmoney judgments. (a) Exemption of homestead. Property of one of thefollowing types, not exceeding one hundred fifty thousand dollars forthe counties of Kings, Queens, New York, Bronx, Richmond, Nassau,Suffolk, Rockland, Westchester and Putnam; one hundred twenty-fivethousand dollars for the counties of Dutchess, Albany, Columbia, Orange,Saratoga and Ulster; and seventy-five thousand dollars for the remainingcounties of the state in value above liens and encumbrances, owned andoccupied as a principal residence, is exempt from application to thesatisfaction of a money judgment, unless the judgment was recoveredwholly for the purchase price thereof:1. a lot of land with a dwelling thereon,2. shares of stock in a cooperative apartment corporation,3. units of a condominium apartment, or4. a mobile home.But no exempt homestead shall be exempt from taxation or from sale fornon-payment of taxes or assessments.(b) Homestead exemption after owner's death. The homestead exemptioncontinues after the death of the person in whose favor the property wasexempted for the benefit of the surviving spouse and surviving childrenuntil the majority of the youngest surviving child and until the deathof the surviving spouse.(c) Suspension of occupation as affecting homestead. The homesteadexemption ceases if the property ceases to be occupied as a residence bya person for whose benefit it may so continue, except where thesuspension of occupation is for a period not exceeding one year, andoccurs in consequence of injury to, or destruction of, the dwellinghouse upon the premises.(d) Exemption of homestead exceeding one hundred fifty thous or a period not exceeding one year, andoccurs in consequence of injury to, or destruction of, the dwellinghouse upon the premises.(d) Exemption of homestead exceeding one hundred fifty thousanddollars in value for the counties of Kings, Queens, New York, Bronx,Richmond, Nassau, Suffolk, Rockland, Westchester and Putnam; one hundredtwenty-five thousand dollars for the counties of Dutchess, Albany,Columbia, Orange, Saratoga and Ulster; and seventy-five thousand dollarsfor the remaining counties of the state. The exemption of a homestead isnot void because the value of the property exceeds one hundred fiftythousand dollars for the counties of Kings, Queens, New York, Bronx,Richmond, Nassau, Suffolk, Rockland, Westchester and Putnam; one hundredtwenty-five thousand dollars for the counties of Dutchess, Albany,Columbia, Orange, Saratoga and Ulster; and seventy-five thousand dollarsfor the remaining counties of the state but the lien of a judgmentattaches to the surplus.(e) Sale of homestead exceeding one hundred fifty thousand dollars forthe counties of Kings, Queens, New York, Bronx, Richmond, Nassau,Suffolk, Rockland, Westchester and Putnam; one hundred twenty-fivethousand dollars for the counties of Dutchess, Albany, Columbia, Orange,Saratoga and Ulster; and seventy-five thousand dollars for the remainingcounties of the state in value. A judgment creditor may commence aspecial proceeding in the county in which the homestead is locatedagainst the judgment debtor for the sale, by a sheriff or receiver, of ahomestead exceeding one hundred fifty thousand dollars for the countiesof Kings, Queens, New York, Bronx, Richmond, Nassau, Suffolk, Rockland,Westchester and Putnam; one hundred twenty-five thousand dollars for thecounties of Dutchess, Albany, Columbia, Orange, Saratoga and Ulster; andseventy-five thousand dollars for the remaining counties of the state invalue. The court may dir ousand dollars for thecounties of Dutchess, Albany, Columbia, Orange, Saratoga and Ulster; andseventy-five thousand dollars for the remaining counties of the state invalue. The court may direct that the notice of petition be served uponany other person. The court, if it directs such a sale, shall so marshalthe proceeds of the sale that the right and interest of each person inthe proceeds shall correspond as nearly as may be to his right andinterest in the property sold. Money, not exceeding one hundred fiftythousand dollars for the counties of Kings, Queens, New York, Bronx,Richmond, Nassau, Suffolk, Rockland, Westchester and Putnam; one hundredtwenty-five thousand dollars for the counties of Dutchess, Albany,Columbia, Orange, Saratoga and Ulster; and seventy-five thousand dollarsfor the remaining counties of the state, paid to a judgment debtor, asrepresenting his interest in the proceeds, is exempt for one year afterthe payment, unless, before the expiration of the year, he acquires anexempt homestead, in which case, the exemption ceases with respect to somuch of the money as was not expended for the purchase of that property;and the exemption of the property so acquired extends to every --- NEW YORK CIVIL PRACTICE LAW AND RULES (CPLR) New York State | For Informational Purposes Only debtagainst which the property sold was exempt. Where the exemption ofproperty sold as prescribed in this subdivision has been continued afterthe judgment debtor's death, or where he dies after the sale and beforepayment to him of his portion of the proceeds of the sale, the court maydirect that portion of the proceeds which represents his interest beinvested for the benefit of the person or persons entitled to thebenefit of the exemption, or be otherwise disposed of as justicerequires.(f) Exemption of burying ground. Land, set apart as a family orprivate burying ground, is exempt from appl tled to thebenefit of the exemption, or be otherwise disposed of as justicerequires.(f) Exemption of burying ground. Land, set apart as a family orprivate burying ground, is exempt from application to the satisfaction ofa money judgment, upon the following conditions only:1. a portion of it must have been actually used for that purpose;2. it must not exceed in extent one-fourth of an acre; and3. it must not contain any building or structure, except one or morevaults or other places of deposit for the dead, or mortuary monuments. CPLR § 5206 Page 2