2013 New York Consolidated Laws
CVP - Civil Practice Law & Rules
Article 52 - (5201 - 5253) ENFORCEMENT OF MONEY JUDGMENTS
5206 - Real property exempt from application to the satisfaction of money judgments.

 
    §  5206.  Real property exempt from application to the satisfaction of
  money judgments. (a) Exemption of homestead.  Property  of  one  of  the
  following  types,  not  exceeding one hundred fifty thousand dollars for
  the counties of  Kings,  Queens,  New  York,  Bronx,  Richmond,  Nassau,
  Suffolk,  Rockland,  Westchester  and  Putnam;  one  hundred twenty-five
  thousand dollars for the counties of Dutchess, Albany, Columbia, Orange,
  Saratoga and Ulster; and seventy-five thousand dollars for the remaining
  counties of the state in value above liens and encumbrances,  owned  and
  occupied  as  a  principal  residence, is exempt from application to the
  satisfaction of a money judgment,  unless  the  judgment  was  recovered
  wholly for the purchase price thereof:
    1. a lot of land with a dwelling thereon,
    2. shares of stock in a cooperative apartment corporation,
    3. units of a condominium apartment, or
    4. a mobile home.
    But no exempt homestead shall be exempt from taxation or from sale for
  non-payment of taxes or assessments.
    (b)  Homestead  exemption after owner's death. The homestead exemption
  continues after the death of the person in whose favor the property  was
  exempted  for the benefit of the surviving spouse and surviving children
  until the majority of the youngest surviving child and until  the  death
  of the surviving spouse.
    (c)  Suspension  of  occupation  as affecting homestead. The homestead
  exemption ceases if the property ceases to be occupied as a residence by
  a person for  whose  benefit  it  may  so  continue,  except  where  the
  suspension  of  occupation  is  for a period not exceeding one year, and
  occurs in consequence of injury to,  or  destruction  of,  the  dwelling
  house upon the premises.
    (d)  Exemption  of  homestead  exceeding  one  hundred  fifty thousand
  dollars in value for the counties of Kings,  Queens,  New  York,  Bronx,
  Richmond, Nassau, Suffolk, Rockland, Westchester and Putnam; one hundred
  twenty-five  thousand  dollars  for  the  counties  of Dutchess, Albany,
  Columbia, Orange, Saratoga and Ulster; and seventy-five thousand dollars
  for the remaining counties of the state. The exemption of a homestead is
  not void because the value of the property  exceeds  one  hundred  fifty
  thousand  dollars  for  the  counties of Kings, Queens, New York, Bronx,
  Richmond, Nassau, Suffolk, Rockland, Westchester and Putnam; one hundred
  twenty-five thousand dollars  for  the  counties  of  Dutchess,  Albany,
  Columbia, Orange, Saratoga and Ulster; and seventy-five thousand dollars
  for  the  remaining  counties  of  the  state but the lien of a judgment
  attaches to the surplus.
    (e) Sale of homestead exceeding one hundred fifty thousand dollars for
  the counties of  Kings,  Queens,  New  York,  Bronx,  Richmond,  Nassau,
  Suffolk,  Rockland,  Westchester  and  Putnam;  one  hundred twenty-five
  thousand dollars for the counties of Dutchess, Albany, Columbia, Orange,
  Saratoga and Ulster; and seventy-five thousand dollars for the remaining
  counties of the state in value.  A  judgment  creditor  may  commence  a
  special  proceeding  in  the  county  in  which the homestead is located
  against the judgment debtor for the sale, by a sheriff or receiver, of a
  homestead exceeding one hundred fifty thousand dollars for the  counties
  of  Kings, Queens, New York, Bronx, Richmond, Nassau, Suffolk, Rockland,
  Westchester and Putnam; one hundred twenty-five thousand dollars for the
  counties of Dutchess, Albany, Columbia, Orange, Saratoga and Ulster; and
  seventy-five thousand dollars for the remaining counties of the state in
  value. The court may direct that the notice of petition be  served  upon
  any other person. The court, if it directs such a sale, shall so marshal
  the  proceeds  of the sale that the right and interest of each person in
  the proceeds shall correspond as nearly as  may  be  to  his  right  and

  interest  in  the  property sold. Money, not exceeding one hundred fifty
  thousand dollars for the counties of Kings,  Queens,  New  York,  Bronx,
  Richmond, Nassau, Suffolk, Rockland, Westchester and Putnam; one hundred
  twenty-five  thousand  dollars  for  the  counties  of Dutchess, Albany,
  Columbia, Orange, Saratoga and Ulster; and seventy-five thousand dollars
  for the remaining counties of the state, paid to a judgment  debtor,  as
  representing  his interest in the proceeds, is exempt for one year after
  the payment, unless, before the expiration of the year, he  acquires  an
  exempt homestead, in which case, the exemption ceases with respect to so
  much of the money as was not expended for the purchase of that property;
  and  the  exemption  of  the  property so acquired extends to every debt
  against which the property sold  was  exempt.  Where  the  exemption  of
  property sold as prescribed in this subdivision has been continued after
  the  judgment debtor's death, or where he dies after the sale and before
  payment to him of his portion of the proceeds of the sale, the court may
  direct that portion of the proceeds which  represents  his  interest  be
  invested  for  the  benefit  of  the  person  or persons entitled to the
  benefit of the  exemption,  or  be  otherwise  disposed  of  as  justice
  requires.
    (f)  Exemption  of  burying  ground.  Land,  set  apart as a family or
  private burying ground, is exempt from application to  the  satisfaction
  of a money judgment, upon the following conditions only:
    1. a portion of it must have been actually used for that purpose;
    2. it must not exceed in extent one-fourth of an acre; and
    3.  it  must not contain any building or structure, except one or more
  vaults or other places of deposit for the dead, or mortuary monuments.