Legal Question in Bankruptcy in New York

Homestead exemption

What is the homestead exemption in NYS? Is it 50,000.00? I am renting to own a home, filing chapter 7. Paid 28,000 for the home, owe 12,000 on it. Will the homestead exemption cover this? I won't own the property the home is on, since it is leased land. I will only own the home.


Asked on 6/06/07, 6:50 pm

1 Answer from Attorneys
Jacob Silver Attorney At Law

Re: Homestead exemption

You need an attorney to file your case to see whether you qualify for the homestead. Bankruptcy is complicated under the new law, you need an attorney.

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Answered on 6/06/07, 6:58 pm


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