Photo Scanner: California Homestead Exemption

Monday, 12 November 2012

California Homestead Exemption

Homestead exemption is a legal regime designed to protect the value of the homes of residents from property taxes, creditors, and circumstances arising from the death of the homeowner spouse. Laws are found in state statutes or constitutional provisions which exist in many states in the United States. The homestead exemption in certain southern states has its legal origins in colonial Spanish exemption laws. Exemption laws in other states were enacted in response to the effects of economic depressions in the nineteenth century. The state of California recognizes the right of homeowners to claim homestead exemptions, which protect a property owner who lives at the property in question from creditors and other agents seeking to take their home to make up for a debt owed. These laws generally apply to California homeowners whether or not they have a recorded homestead document, but additional protections and benefits can be conveyed by filing for the protection.