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 Jun. 22, 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...

Accessed:
Jun. 22, 2024

Last modified:
Sep. 22, 2014

§ 5253’s source at nysenate​.gov

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