Homestead Act
DID YOU KNOW!
California has an automatic homestead exemption for homeowners residing in their principal place of of residence. (May require property tax bill showing home owner exemption.)
There are two types of Homestead “Declared” & “Undeclared”, both must have court approval.
HOMESTEAD EXEMPTIONS PROTECT HOMEOWNERS FROM JUDGMENT CREDITORS ONLY!
The following are the maximum allowance for protection from judgment creditors under theCalifornia Code of Civil Procedures 704.710 Re:Homestead Exemptions:
Single adult less than sixty-five years old. . . . . . . . . . . . . . . . . $50,000
Married couple less than sixty-five years old. . . . . . . . . . . . . . .$75,000
Homeowners sixty-five and older or DISABLED AT ANY AGE. .$100,000
Always consult competent legal counsel before filing a homestead exemption:
