Legal Question in Real Estate Law in Arizona

Re: Homestead Act

Yes, the homestead protection is given to everyone, except for those who you give a collateral interest in the property.

Re: Homestead Act

Arizona gives a homestead exemption from creditors. The purpose of the homestead "form" recording nowadays is to declare which property you are going to take your exemption in if you own more than one residence. There is little need to record the "form," since the exemption can be taken even after the bankruptcy filing to my understanding and can be declared in judgment proceedings if you are sued and get a judgment against you.

The more important question is whether you have proper trusts or beneficiary deeds to avoid probate, and proper powers of attorney which meet the current statutes (most "form" sellers do not have the proper wording) in case of accident or illness that renders you incapacitated temporarily or permanently. The homestead declaration is really a non-issue today, the other issues I mentioned much more important. If you have further questions on this you could call 480.835.1500 for more free information.

Good luck,

James D. Jenkins