Bill > A06390

This bill amends the New York Civil Practice Law and Rules to increase the homestead exemption value from $150,000 to $250,000 for several counties, including Kings, Queens, New York, Bronx, Richmond, Nassau, Suffolk, Rockland, Westchester, and Putnam. The homestead exemption protects a person's primary residence from being seized to satisfy a civil money judgment, with different exemption limits based on the county. For other counties like Dutchess, Albany, Columbia, Orange, Saratoga, and Ulster, the exemption value increases from $125,000 to $175,000, while remaining counties see their exemption rise from $75,000 to $125,000. This means that if a judgment creditor tries to collect a debt, they cannot force the sale of a home up to the specified value. The bill also updates language related to proceeds from home sales and ensures that judgment debtors can protect a portion of their home's value from being used to satisfy judgments. The changes aim to provide greater financial protection for homeowners by expanding the amount of home equity that cannot be claimed by creditors.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A6390