New York homestead exemption

[tg16]

Is this exemption doubled only when BOTH spouses file for bankruptcy?

Thank you

[justbroke]

Yes.

The wording is that the exemption applies to a "debtor" in the bankruptcy. A non-debtor doesn't receive the exemption because they are not a debtor, in the bankruptcy. However, for a homestead, the exemption would apply to the filing (debtor) spouse's interest in the property. For a homestead, it really depends on how the property is titled. There are differences between tenancy by the entireties (TBE) versus tenants in common and other ways to hold property.