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Where can I get property tax information regarding homestead exemptions in Texas?
Wiki User
∙ 14y ago
You can find information the exemptions at www.window.state.tx
Wiki User
∙ 14y ago
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I'm loooking into homestead exemptions, where is the best place for this Property Tax Information?
Finding out homestead exemption information will depend on what state you reside. For Florida: http://dor.myflorida.com/dor/property/taxpayers/exemptions.html. For Georgia: www.dor.ga.gov/ptd/adm/taxguide/exempt/homestead.aspx
How many Homestead Exemptions can one file against a garnishment in Virginia?
A homestead exemption is filed for your primary residence in the land records. Only one is filed and it protects the property from creditors seizure of the property up to the dollar limit set by state law. Check at your state's official website for more information.
Is it possible to have two homestead exemptions running concurrently?
You need to check your state laws. However, the general principal behind homestead exemptions is to protect the primary residence from siezure by creditors. If that is the case in your state you may create a problem for yourself by having homestead exemptions on two properties. A creditor could argue that your homestead covers the less valuable property and the court may allow the more valuable property to be siezed. Also, the recording of a new homestead may cancel out the existing one. You should seek the advice of an attorney in your jurisdiction who is an expert in real estate law.
How much personal property can you keep in bankruptcy?
It depends on your state. A few states allow you to choose the federal or the state exemptions, whichever is better for you. Homestead exemptions have gotten a lot more complicated since the changes. See the link for more specific information for your state.http://www.exemptionsexpress.com/
If you file chapter 7 bankruptcy can they take the equipment you use for work?
It depends on the exemptions. If you have to use your state exemptions, you will have to ask a local bankruptcy lawyer. If you can use the federal exemptions, you are able to exempt up to $2,025 in work-related property. You may also apply other exemptions, such as the motor vehicle exemption, the wildcard exemption and half of the unused portion of the homestead exemption.
What do you need to know about property ownership from out of state when moving to a new state?
This is a very good question. You would want to know if the state you move to is a community property state or a separate property state and the various tenancies that are available for property owned by multiple owners, married couples or non-married partners. If necessary, you would need to know the laws regarding same sex marriage and civil unions in order to protect your partner if you died unexpectedly. You would need to know the laws of intestacy regarding real property. You would also want to know if homestead exemptions are automatic or if a homestead must be separately declared and recorded in the land records. You may even want to update your will.
If you own your home are you homestead exempt?
A homestead exemption can be filed for a mobile home. Check with your town clerk for the procedure. Residential dwellings such as houses, condos, mobile homes are not considered personal property.Examples of personal property are: Household goods, electronics, clothing, jewelry, stocks, bonds, bank accounts and similar assets/items. Some US states have exemptions for such, consult the bankruptcy laws concerning your state of residence to find out what may apply. If the state does not have a set of exemptions then the federal bankruptcy exemptions apply during BK or a creditor judgment action. Please note: Allowable exemptions are based upon the actual ownership of the real or personal property in question. Joint ownership of any kind can change the judgment status of all property, especially when it relates to a married couple.
What are debtor's exemptions?
Every person that files for bankruptcy or has a judgment awarded against them in a lawsuit is entitled to certain property exemptions. Exemptions are determined by the state law where the person resides. For homeowners the most important would be the homestead exemption which can be used to protect a home from a forced sale. Even if the home cannot be kept, the person can claim the maximum homestead amount allowable under state statutes.
Moving to new house will the taxes remain the same under the homestead exemption act or will I have to pay taxes listed on property?
In most states tax abatements, deferments, and exemptions depend upon the qualifications of the owners of the property. When a property is sold the new owners must apply for any abatement, deferment, or exemption. The property is assessed and taxed as an other taxable property unless you apply for and get approval for homestead exemption status. The qualifying requirements vary from state to state, and some states (Virginia for example) have no homestead exemption at the present time.
Are there any personal exemptions of property in a bankruptcy action?
If you mean exemptions of personal property, as opposed to real estate, yes, but they depend on state exemptions or federal exemptions in states that allow a choice of state or federal exemptions. Consult a local bankruptcy lawyer for specifics for your state.
Where can you find the laws relating to repossessions and liens in Texas?
41.024 - Sale of Excess. An officer holding an execution sale of property of a judgment debtor whose homestead had been designated under this chapter may sell the excess of the judgment debtor's interest in land not included in the homestead. A lien can be placed against most property, with the exception of that which is held in "entirety". Texas has an unlimited Homestead Exemption, except for the land itself. An urban residence can be no larger than 10 acres, and rural homestead 200 acres for a family residence, 100 acres for a single owner. Even though a lien could be placed on the property. A forced sale of said property would not be possible. To find out all the exemptions allowable under Texas law, search "Texas Bankruptcy Exemptions" they are applicable to BK filings and lawsuit judgments. www.capitol.state.tx.us
Is a property in Texas legally protected against all liens with a homestead?
No. Texas has one of the broadest homestead exemptions in the United States, but it's not protection against all liens. Mechanics' Liens for work done on the homestead, for example, are allowed, and the lienholder of a valid mechanics' lien can even force the sale of the property to pay the debt, as can the federal government for debts owed to it (such as income taxes).If you really need to know if the homestead exemption protects you from a particular type of lien, you should consult an attorney familiar with Texas law.
