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I own a small cooperative apartment. If I file for bankruptcy, will I lose my apartment?

If the fair market value of the apartment, after deducting any mortgages, is less than $50,000 singly, or $100,000 for a married couple filing jointly, the apartment would be exempt under the new bankruptcy laws in New York.

(Courtesy of Association of the Bar of the City of New York)

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This entry was posted on Thursday, December 10th, 2009 at 2:50 pm and is filed under FAQ's. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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