Legal Question in Real Estate Law in California
Does the homstead act protect home equity against a law suit?
Asked on 7/28/09, 3:14 pm
1 Answer from Attorneys
Terry A. Nelson
Nelson & Lawless
A California Homestead Exemption filing doesn't 'protect against a lawsuit', doesn't keep one from being filed and pursued, it allows some equity to be safe from levy and collection if there is a judgment against you, up to a max of:
$50,000 - Single Debtor
$75,000 Head of Household
$150,000 65 years or Disabled or 55 years with low income
The sooner you file, the better.
Answered on 7/28/09, 5:58 pm
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