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Exempt Property Archives

It's Time for a Renter's Homestead Exemption

The October 21, 2013, New York Times discussed a case highlighting the need for a law exempting New York State's residential leases from being used to satisfy creditors' claims from judgments or in bankruptcy. Since 2005, the "homestead exemption" provided New Yorkers owning their homes increased from $10,000 to $150,000 of equity in their homes. The amount effectively doubles if the home is jointly owned.

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