Legal Question in Bankruptcy in California

Unused portion of homestead exemption for non homeowner

On California System 2, can I use the entire ''unused portion'' of the homestead exemption for any other property? I don't own a home.


Asked on 2/26/04, 1:23 pm

2 Answers from Attorneys
Chris Johnson Christopher B. Johnson, Attorney at Law

Re: Unused portion of homestead exemption for non homeowner

The 703.140(b)(1), 703.140(b)(5) exemption can be used for any property, generally, if it's not used up by your real estate equity.

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Answered on 2/26/04, 2:19 pm
Robert F. Cohen Law Office of Robert F. Cohen

Re: Unused portion of homestead exemption for non homeowner

Code of Civil Procedure section 703.140(b)(5) allows you to use up to $925 + unused portion of $17,425 (homestead exemption) as an exemption for any items of property. Make sure, though, that you do not mix exemptions from the section 704 series with those of section 703. That is not permitted.

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Answered on 2/26/04, 2:23 pm


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