N.Y. Civil Practice Law & Rules Section 5253
Cost of living adjustment for personal and real property exempt from application to the satisfaction of money judgments and exemptions in...

§ 5253. Cost of living adjustment for personal and real property exempt from application to the satisfaction of money judgments and exemptions in bankruptcy.

(a)

Beginning on April first, two thousand twelve, and at each three-year interval ending on April first thereafter, the dollar amount of the exemption provided in sections fifty-two hundred five and fifty-two hundred six of this article and sections two hundred eighty-two and two hundred eighty-three of the debtor and creditor law shall be adjusted as provided in subdivision (b) of this section.

(b)

The superintendent of financial services shall determine the amount of the adjustment based on the change in the consumer price index for all urban consumers, New York-Northern New Jersey-Long Island, NY-NJ-CT-PA, published by the U.S. department of labor, bureau of labor statistics, for the most recent three-year period ending on December thirty-first preceding the adjustment, with each adjusted amount rounded to the nearest twenty-five dollars.

(c)

Beginning on April first, two thousand twelve, and at each three-year interval ending on April first thereafter, the superintendent of financial services shall publish the current dollar amount of the applicable exemption provided in this article, together with the date of the next scheduled adjustment. The publication shall be substantially in the form set forth below: “Current dollar amount of exemption from application to the satisfaction of money judgments under New York civil practice law and rules sections 5205 and 5206 and exemptions in bankruptcy under debtor and creditor law sections 282 and 283: The following is the current dollar amount of exemptions from the satisfaction of money judgments under civil practice law and rules sections 5205 and 5206 and under debtor and creditor law sections 282 and 283: (amount) This amount is effective on April 1, (year) and shall not apply to cases commenced before April 1, (year). The next adjustment is scheduled for April 1, (year). Such adjustments shall not apply with respect to restraining notices served or executions effected before the date of the adjustment. Nothing in this section limits the judgment debtor’s exemption rights in this section or under any other law.”

Source: Section 5253 — Cost of living adjustment for personal and real property exempt from application to the satisfaction of money judgments and exemptions in..., https://www.­nysenate.­gov/legislation/laws/CVP/5253 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

5201
Debt or property subject to enforcement 5202
Judgment creditor’s rights in personal property 5203
Priorities and liens upon real property 5204
Release of lien or levy upon appeal 5205
Personal property exempt from application to the satisfaction of money judgments 5206
Real property exempt from application to the satisfaction of money judgments 5207
Enforcement involving the state 5208
Enforcement after death of judgment debtor 5209
Discharge of garnishee’s obligation 5210
Power of court to punish for contempt 5211
Privilege on examination 5221
Where enforcement proceeding commenced 5222
Restraining notice 5222‑A
Service of notices and forms and procedure for claim of exemption 5223
Disclosure 5224
Subpoena 5225
Payment or delivery of property of judgment debtor 5226
Installment payment order 5227
Payment of debts owed to judgment debtor 5228
Receivers 5229
Enforcement before judgment entered 5230
Executions 5231
Income execution 5232
Levy upon personal property 5233
Sale of personal property 5234
Distribution of proceeds of personal property 5235
Levy upon real property 5236
Sale of real property 5237
Failure of title to property sold 5238
Directions to the sheriff 5239
Proceeding to determine adverse claims 5240
Modification or protective order 5241
Income execution for support enforcement 5242
Income deduction order for support enforcement 5250
Arrest of judgment debtor 5251
Disobedience of subpoena, restraining notice or order 5252
Discrimination against employees and prospective employees based upon wage assignment or income execution 5253
Cost of living adjustment for personal and real property exempt from application to the satisfaction of money judgments and exemptions in...
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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 5253’s source at nysenate​.gov

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