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If your home is paid off that is the best reason to record a homestead exemption since you own all the equity in your home. Creditors often will leave a home alone if it is encumbered by mortgages. However, a property not encumbered by a mortgage would be very vulnerable to creditors. Consider unexpected creditors such as those resulting from a car accident.
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What is the minimum homestead exemption in California in terms of monetary value?
you can homestead you house for the price you paid for it
If you have land that is paid off and you are living there in a camper will you lose the land if you file for bankruptcy?
It's not a question of losing the land. It's a question of whether you are entitled to a homestead exemption. Most states do not recognize a camper as the basis for a homestead. Check your state law to see what it allows for homestead and for state exemption and if you have a choice of federal or state exemptions. Then the problemn is how much the land is worth vs. how much the exemption is.
Can a credit card company take your home and your wages in New Jersey?
When a creditor wins a lawsuit they can enforce a writ of judgment which can be wage garnishment. Wage garnishment may not exceed 10% of the gross salary of the defendant,the first $154.50(based on being paid weekly) is exempt under federal law. NJ allows the choice of federal or state exemption concerning homestead exemptions. The federal exemption being more beneficial for the debtor. The exemption is $18,450 and may be doubled for married couples. There are other exemptions which can protect specific amounts and items of real and personal prop. Some states allow the forced sale of a home that is not covered by the homestead exemption. However this is rarely done when it pertains to the primary residence.If you feel I can be of further assistance please email me macky83@juno.com
What is Homestead Web Hosting?
Homestead is a paid web hosting service. It was launched in 1998. They are based out of Menlo Park, California. They were the home of Photosite and were purchased by Intuit, another software company.
How do you prevent someone from placing a lien on property?
Get signed lien releases for every dime you write to him. Progress lien waivers are for work paid for, but not fully paid for...and final lien releases are for work that is complete. Make sure you get proper forms for a legal forms store or consult a real estate agent, title company, or attorney for the proper language to protect yourself in that state.
How will they calculate my homestead rebate for NJ if I lived and owned a home in NJ in October 2007 make under 100k and paid taxes from June 2007 when I bought the house through December 2007?
because the Homestead rebate website says it's based on taxes accessed in 2006, but i did not own the house in 2006.
What happens If I paid my personal estimated taxes about half a month after January 15?
The reduction for your personal exemption is reduced.
How do you use the word exempt in a sentence?
"Exempt" is an adjective meaning that certain conditions do not apply to its subject.It can be used as a simple adjective:Exempt employees are not required to complete time sheets.It is more frequently used as a predicate adjective:If you are paid a fixed salary rather than an hourly rate at work, you are exempt from certain labor laws such as overtime pay.
If your house is paid for will you lose it if you claim bankruptcy?
yes another answer: you can't lose your primary residence; also - homestead it.
This president was drafted to fight in the civil war but instead paid the 150 exemption fee?
Grover Cleveland, 22nd President
Can collection agencies garnish a pension in Pa that is direct deposite in a checking account if the pension is paid by PGBC a government program?
A collection agency can only garnish pensions in PA that is directed deposited in a checking about if the pension is paid by PGBC, a government program if the debtor has not filed an exemption. Typically, the debtor has 10 to 21 to file an exemption.
Does an adult dependent who is sole beneficiary of a sister's estate have any rights to keep the home they lived in if there are unsecured hospital debts.?
The estate of the deceased is responsible for hospital bills whether it's paid by the life insurance, medical insurance or other. Any remaining assets from the estate of the deceased can be given to the beneficiary... after taxes. * Whether or not the property may be subject to probate procedure or to creditor attachment for debt owed depends upon how the property is titled, the state probate succession laws and perhaps the state's homestead exemption.
