New York Bankruptcy Exemption List

You may only use the State Exemption

New York has developed their own list of bankruptcy exemptions. In the state of New York, you must use the state bankruptcy list. There may be additional supplemental federal exemptions which can also be used in conjunction with the New York exemption list. It is important to discuss all of your exemptions with a New York Bankruptcy Attorney. Exemption Amount

The goal of the New York bankruptcy exemption list is to allow you to keep enough assets and personal property to start over after bankruptcy, There may not be a corresponding exemption listing for all of your assets. Certain states may also have a residency requirement to use the state exemption list.

Exemptions Exemption Amount Statutes

Real property including co-op, condo or mobile home, to $10,000

Husband & wife may double


In re Pearl, 723 F.2d 193 (2nd Cir. 1983)

Alimony, child support needed for support

Property of business partnership

Debtor & Creditor 282(2)(d)

Partnership 51
  Property of business partnership Partnership 51
Tools of the Trade Farm machinery, team, food for 60 days, professional furniture, books & instruments to $600 total


  Uniforms, medal, equipments,. Emblem, horse, arms and sword of military member 5205(e
Wages 90% of earnings from milk sales to milk dealers


  90% of earned but unpaid wages received within 60 days prior (100% for a few militia members) 5205(d), (e)

Annuity contract benefits due or prospectively due the debtor, who paid for the contract; if purchased within 6 months prior & not tax-deferred, only $5000


Insurance 3212(d), Debtor & Creditor 283(1)

Insurance 3212(c)

Estates, Powers & Trusts7-1.5(a)(2)

Insurance 321(b)(2)


Life insurance proceeds left at death with the insurance company pursuant to agreement, if clause prohibits proceeds from being used to pay beneficiarys’ creditors  

Disability or illness benefits to $400 per month

  Life insurance proceeds and avails if the person effecting the policy is the spouse of the insured Insurance 321(b)(2)

ERISA-qualified benefits needed for support, includes IRAs

Debtor & Creditor 282(2)(e), 5205(c)


IRAs needed for support

Debtor & Creditor 282(2)(e), 5205(c)


Keoghs needed for support

Debtor & Creditor 282(2)(e), 5205(c)


Public retirement benefits

Insurance 4607


State employees

Retirement & Social Security 110

  Village police officers Unconsolidated 5711-o
Public Benefits

Aid to blind, aged, disabled, AFDC

Debtor &Creditor 282(2)(c), Debtor & Creditor 282(3)(i), Debtor & Creditor 282(2)(a)
  Crime victims’ compensation  
  Home relief, local public assistance  
  Social security  
  Workers’ compensation  
  Unemployment compensation  
  Veterans’ benefits  
Personal Property

Bible; schoolbooks; books to $50; pictures; clothing; church pew or seat; stoves with fuel to last 60 days; sewing machine; domestic animal with food to last 60 days, to $450; food to last 60 days; furniture; refrigerator; TV; radio; wedding ring; watch to $35; crockery, cooking utensils and tableware needed, to $5000 total (with farm machinery, etc.)

Burial plot, without structure to ¼ acre

Cash, the lesser of either $2500, or an amount that, with annuity, totals $5000; in lieu of homestead

Health aids, including animals with food

Lost earnings recoveries needed for support

Motor vehicle to $2400

Personal injury recoveries to $7500 (not to include pain and suffering)

Security deposits to landlord, utility company

Trust fund principal, to 90% of income

Wrongful death recoveries for person you depended on, needed for support

 5205(1)-(6), Debtor & Creditor 283(1)


Debtor & Creditor 283(2)


Debtor & Creditor 282(3)(iv)

Debtor & Creditor 282(1)

Debtor & Creditor 282(3)(iii)


5205(c), (d)

Debtor & Creditor 282(3)(ii)
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