A homestead provides homeowners protection against involuntary money judgments against their house. The home must be the homeowner's primary residence to qualify for a homestead. Money judgments made against a homeowner in court can result in the selling of home equity or the selling of a homeowner's home altogether. The state of California automatically grants homeowners a minimum homestead of $50,000. The homestead is raised to $75,000 if one family member who owns no interest in the house resides in the home. In certain cases, homeowners aged 55 or older are eligible for an automatic homestead of $150,000. Declarations of homestead are used to increase the legal protection a homeowner has.
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Declaration of Homestead
Obtain a Declaration of Homestead for California form from your local county recorder's website. You can also walk into your local county recorder office in person to get the form.
Fill out the Declaration of Homestead with the amount of interest you own on your home, your address and any other information needed before you sign the document. Include any people living within your home within your family to receive the best homestead protection.
Take the form to a Notary Public or any other person qualified to notarize legal documents, and sign it in her presence.
File the completed Declaration of Homestead with the County Recorder in your county.