I recently found out my home is declared a homestead, but I’m confused. If someone wins a lawsuit against me for $500, can they automatically take that from the sale of my home? I’m just trying to figure this out.
I think a homestead declaration usually protects your home from creditors… but I’m not a lawyer, lol.
Zan said:
I think a homestead declaration usually protects your home from creditors… but I’m not a lawyer, lol.
Right? I heard it’s supposed to keep your home safe from debts.
Zan said:
I think a homestead declaration usually protects your home from creditors… but I’m not a lawyer, lol.
Right? I heard it’s supposed to keep your home safe from debts.
Yeah, but I think it might not cover everything. Like, if it’s a lawsuit, they could still go after it.
So, if you have a declared homestead, does that mean no debts can be paid from the house sale?
Mai said:
So, if you have a declared homestead, does that mean no debts can be paid from the house sale?
Pretty much! But it might depend on the situation… gotta check the details.
I had a similar issue! I think it’s safe as long as you didn’t take out any loans against it.
Storm said:
I had a similar issue! I think it’s safe as long as you didn’t take out any loans against it.
What if it’s a small claims suit? Does that change anything?
Storm said:
I had a similar issue! I think it’s safe as long as you didn’t take out any loans against it.
What if it’s a small claims suit? Does that change anything?
IDK, but I think even small claims can still affect things. Might want to consult a lawyer.
I heard you can file a new homestead declaration if needed? Is that true?
Dale said:
I heard you can file a new homestead declaration if needed? Is that true?
Yeah, I think so! It could help protect you better.
If your renter caused damage and you want to charge them, how does that work with your homestead?
Rin said:
If your renter caused damage and you want to charge them, how does that work with your homestead?
You can definitely list violations if they hurt you financially… just keep everything documented.
@Amani
Good to know! I might have to do that too with my last renter.