Exemption Law In N. Y.

There has been considerable discussion in New York in reference to the Homeo'.cad exempiion, and abillhas been in trodnccd forsecuring a permanent home to every family that hnssufficient ability to acquire one. The foilowing are its provisions. 1. Exempts a homes'ead of a family of two or more persons, for any debt or obligation contractcd aftcr the passage of this act. 2. Provides that it shall noí be eticumbcredby nr.ortgage or otherwise, except upon tho joint application of husband and wife, where such relaiion exisis, to the ofiïcer of the county discharging the duties of the office of Surrogate, and his npproval, such officer to direct the disposition of the proceeds of such mortgage. 3. Provides for ihe nppointment of' commissloners, upon the applicalion of a judgment creditor, to roake portition where the valuo of a homestead exceeds $1000, so that only that amount of proprptv shnll he exemnt.4. Provides ca?es where the valué may exceed $1000 and the premises are not divisible. ín such cases a part may be leased to pay tho judgment, or the whole sold, and $750 applied to purchnso of a new homestead and the residuo go to creditors. 5. Secures the wife or a deceased husband the same intere6ti in the homestead that the husband now hos in the lands of hhdeceaBed wife.