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Homestead Declaration Protects Your Property

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Especially as the economy around us continues to fail knowing about homestead exemptions becomes very important. In the United States there are several states that have a homestead act that protects your primary residence from creditors. (Outside of the mortgage holder of course) In some of these states the exemption in a bankruptcy scenario is automatic up to a set amount which varies with each state that has this exemption. In other states you must have declared your residence as your homestead in order to protect this exemption preventing creditors from attaching to your home. See the explanation of the homestead declaration and which states honor it at the featured link below. From that point check your individual state for the requirements of their particular law. It’s not just for farmers anymore and a very inexpensive way to protect your home!

Protect Your Property with a Homestead Declaration

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