Money & Debt · Homestead (creditor protection)
Homestead Exemption from Creditors in New York
How much of your home equity is shielded from a judgment creditor in New York, what the exemption does not stop, and how to claim it, cited to the statute.
What is protected in New York
The equity shielded from creditors, how it applies, and the debts it cannot stop.
| Rule | In New York | What it means |
|---|---|---|
| Equity protected | $102,400 to $204,825 | CPLR §5206(a) sets the homestead exemption in three county tiers, adjusted for inflation every three years. The amounts effective April 1, 2024 are $204,825 for Kings, Queens, New York, Bronx, Richmond, Nassau, Suffolk, Rockland, Westchester, and Putnam; $170,700 for Dutchess, Albany, Columbia, Orange, Saratoga, and Ulster; and $102,400 for the remaining counties. |
| Applies automatically | Yes | The exemption is self-executing; you do not file anything to claim it against a creditor. It protects the equity in a home you own and occupy, up to your county’s amount. |
| Married or co-owned | See note | Each owner who lives in the home can claim the exemption, so a jointly owned home occupied by two owners is protected up to roughly double the county amount. |
| Varies by county | Yes | Your county decides which of the three amounts applies. The highest tier covers New York City and its nearby suburbs; a middle tier covers several Hudson Valley and Capital Region counties; the rest of the state gets the lowest tier. |
| Federal alternative | Bankruptcy | New York lets a bankruptcy debtor choose the state exemptions or the federal set under 11 U.S.C. §522(d)(1) (about $31,575 per debtor). Because the New York homestead amount is larger, debtors usually keep the state exemption. |
| Does not stop | Some liens | The exemption protects equity above your liens from an ordinary judgment creditor. It does not defeat a mortgage you agreed to, a tax lien, or a debt for the purchase price of the home. If your equity exceeds the exemption, a creditor can reach the surplus. |
| Statute | N.Y. C.P.L.R. §5206(a) | The controlling authority. Read the full text through the source link below. |
The three tier amounts are recalculated every three years for the regional Consumer Price Index. The current figures took effect April 1, 2024, and the next adjustment is April 1, 2027, so confirm the amount if you are reading this close to that date.
What you can do right now
Concrete, neutral steps to protect home equity in New York. This is legal information, not legal advice.
- Find your county’s tier
The protected amount depends on your county: $204,825 downstate, $170,700 in a group of mid-state counties, or $102,400 elsewhere. Identify which tier covers your home, since that sets how much equity is shielded.
- Estimate your equity above liens
Subtract your mortgage and any other liens from your home’s value. The exemption protects that equity up to your county’s amount. If your equity is under the tier amount, an ordinary judgment creditor generally cannot force a sale.
- Count both owners if you co-own
If you and another owner both live in the home, each can claim the exemption, roughly doubling the protected amount. Confirm that both owners occupy the property, since occupancy is what triggers the exemption.
- Get New York help with a judgment
If a creditor with a judgment targets your home, a legal aid office or the state courts self-help resources can explain how the homestead exemption applies and how to assert it. Act before any sale is scheduled.
If a creditor is threatening your home, you can check how the exemption applies and how to claim it. This resource explains your rights.
→ LawHelpNYThis is general legal information, not legal advice. Liens, bankruptcy choices, and local rules can change how the exemption applies to your home.
What people get wrong in New York
Start with the distinction that confuses searchers: this is the homestead exemption that protects your home equity from creditors, not the property-tax version. New York’s creditor exemption, under CPLR §5206(a), is unusual because it changes with geography. The state sets three tiers by county and adjusts them for inflation every three years. As of April 1, 2024, the amount is $204,825 for New York City and its nearby suburbs, $170,700 for a group of Hudson Valley and Capital Region counties, and $102,400 for the rest of the state. The protection is automatic, and it roughly doubles when two owners both live in the home. Two limits keep it honest. It protects only the equity above your existing liens, so it does not stop a mortgage you signed or a tax lien, and if your equity is larger than your county’s amount, a creditor can still reach the surplus. New York also lets bankruptcy filers choose the federal exemption instead, though the state figure is usually larger.
Common questions
How much home equity is protected from creditors in New York?
It depends on your county. Under CPLR §5206(a), the exemption is $204,825 for New York City and nearby counties, $170,700 for several Hudson Valley and Capital Region counties, and $102,400 for the rest of the state, as of April 1, 2024. The amounts adjust every three years.
Why does the New York homestead exemption vary by county?
The statute sets three tiers to reflect different home values across the state. The highest amount covers New York City and its suburbs, a middle amount covers a group of upstate counties, and the lowest amount applies everywhere else. Your county determines which figure protects your home.
Does the New York homestead exemption double for a couple?
Roughly, yes, when both spouses or co-owners live in the home. Each owner-occupant can claim the exemption, so a jointly owned and occupied home is protected up to about twice the county tier amount.
Can a creditor still take my New York home if I have a lot of equity?
Possibly. The exemption protects equity only up to your county’s amount. If your equity above liens is larger than that, a judgment creditor can reach the surplus, though the exempt portion is protected. The exemption also does not defeat a mortgage or tax lien.
What is the difference between the homestead creditor and homestead tax exemption in New York?
They protect against different things. The creditor exemption here shields home equity from a judgment creditor forcing a sale. The separate property-tax relief, such as the STAR program, lowers your annual property tax bill. One is asset protection; the other is a tax break.
Not legal advicePlainStatute provides plain-language summaries of public law for general information only. This is not legal advice. Statutes change; always confirm current requirements with the official source linked above before acting.