The New York state bankruptcy exemptions are found in several different statutes. New York Civil Practice Law and Rules is abbreviated CPLR in the chart below.
Resources:
United States Bankruptcy Court, Eastern District of New York
United States Bankruptcy Court, Northern District of New York
United States Bankruptcy Court, Western District of New York
| New York Bankruptcy Exemptions | |||||
| Assets | Exemption | State Statutes | |||
| Homestead | Real property, condo, co-op, or mobile home: up to $50,000. | ||||
| Insurance | Life insurance proceeds left at death in trust (or some other agreement) with the insurance company: all if the policy has a clause forbidding the proceeds to be used to pay creditors of the beneficiary. | Estates, Powers, and Trusts 7-1.5(a)(2) | |||
| Life insurance proceeds/avails: all if the debtor is not the beneficiary or if the policy was taken out by the debtor’s spouse. | Insurance 3212(b) | ||||
| Illness or disability benefits: up to $400 a month. | Insurance 3212(c) | ||||
| Annuity contract benefits from a contract purchased by the debtor: up to $5000 if the contract was purchased within the 6 months before filing for bankruptcy and if the annuity is not tax-deferred. | Insurance 3212(d); Debtor and Creditor 283(1) | ||||
| Miscellaneous | Child support and alimony: all. | CPLR 5205(d)(3); Debtor and Creditor 282(2)(d) | |||
| Property owned by business partnership. | Partnership 51 | ||||
| Pensions | Federal pension exemptions (see federal exemptions). | ||||
| IRAs, Roth IRAs, and ERISA-qualified benefits: all necessary for support. | CPLR 5205(c); Debtor and Creditor 282(2)(e) | ||||
| Teacher pensions: all. | Education 524 | ||||
| Public retirement benefits: all. | Insurance 4607 | ||||
| State employee pensions: all. | Retirement and Social Security 10 | ||||
| Village police officer pensions: all. | Unconsolidated 5711-o | ||||
| Volunteer ambulance worker benefits: all. | Volunteer Ambulance Worker Benefits 23 | ||||
| Volunteer firefighter benefits: all. | Volunteer Firefighter Benefits 23 | ||||
| Personal Property | Stoves with fuel for 60 days; 1 sewing machine; family bible, family pictures, school books used by family; books up to $50; seat or pew in place of worship; domestic animals with food for 60 days ($450 total for animals and food); food for family for 60 days; clothing, household furnishings; 1 refrigerator; 1 radio; 1 television, dishes and utensils for cooking and eating; 1 wedding ring, 1 watch up to $35. All of these personal property exemptions plus tools of your trade, and some annuities: up to $5,000 total. | CPLR 5205(a)(1)-(6); Debtor and Creditor 283(1) | |||
| Payment for damage to exempt property: all for up to 1 year after receipt. | CPLR 5205(b) | ||||
| Spendthrift trust principal: 90% of income if the trust was not created by the debtor. | CPLR 5205(c), (d) | ||||
| Burial plot without a structure: up to ¼ acre. | CPLR 5206(f) | ||||
| Security deposits (residential and utility): all. | CPLR 5205(g) | ||||
| Health aids, including service animals and their food: all. | CPLR 5205(h) | ||||
| College tuition trust fund: all. | CPLR 5205(j) | ||||
| Motor vehicle: up to $2,400. | Debtor and Creditor 282(1) | ||||
| Recovery for wrongful death for person debtor depended on: all. | Debtor and Creditor 282(3)(ii) | ||||
| Recovery for personal injury: all for 1 year after it is received. | Debtor and Creditor 282(3)(iii) | ||||
| Recoveries for lost future earnings: all necessary for support. | Debtor and Creditor 282(3)(iv) | ||||
| Cash, defined to include bonds, deposits, and tax refunds: up to $2,500 or the unused portion of the $5,000 allowed for personal property and tools of your trade, whichever is less. | Debtor and Creditor 283(2) | ||||
| Public Benefits | Local public assistance and home relief: all. | Debtor and Creditor 282(2)(a) | |||
| Social Security benefits: all. | Debtor and Creditor 282(2)(a) | ||||
| Unemployment compensation benefits: all. | Debtor and Creditor 282(2)(a) | ||||
| Veterans' benefits: all. | Debtor and Creditor 282(2)(b) | ||||
| Aid for blind, disable, or aged persons: all. | Debtor and Creditor 282(2)(c) | ||||
| Workers’ compensation benefits: all. | Debtor and Creditor 282(2)(c); Workers' Comp. 33.218 | ||||
| Crime victim compensation: all. | Debtor and Creditor 282(3)(i) | ||||
| Tools of Your Trade | Farm machinery, team, and food for team for 60 days, and furniture, books, tools, and implements needed for profession: up to $600 total. | CPLR 5205(a)(7) | |||
| For member of military, uniforms, medal, emblem, equipment, horse, arms, and sword: all. | CPLR 5205(e) | ||||
| Wages | Wages, earned but unpaid and received 60 days before filing for bankruptcy or any time after: 90%. | CPLR 5205(d) | |||
| Wages of noncommissioned officer, officer, private, or musician in U.S. or N.Y. state armed forces: 100%. | CPLR 5205(e) | ||||
| Earnings of dairy farmer from sale to milk dealers: 90%. | CPLR 5205(f) | ||||
| Wildcard | No exemption. | ||||
Click here to read an Introduction to Bankruptcy Exemptions.