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What is a homestead declaration?
A homestead law protects homeowners from losing their homes to creditors. Homestead laws vary widely among different states. In Florida and Texas, the homestead laws prevent anyone (except mortgage lenders) from foreclosing on a homeowner's primary residence. In New York, the homestead law permits creditors to foreclose on a homeowner's home, but the homeowner is entitled to keep the first $50,000. In Massachusetts, the homeowner gets to keep the first $500,000 - which means, as a practical matter, no one is going to foreclose on a home worth $499,000 or less in order to collect a debt. In some states, the homestead exemption is automatic -- that is, if you live in your house, then the homestead law applies automatically. In other states, you must file a "Homestead Declaration" in order to put potential creditors on notice that the house is your primary residence. If you file the Homestead Declaration, then you are entitled to the protections of the homestead law. If you don't file the Homestead Declaration, then you're not. You can get a lot of valuable info on this subject at www.homesteadus.com
What is the homestead exemption in Washington State?
The primary meaning of a "homestead" in current real property ownership refers to a "homestead exemption". A homestead exemption is a statutory protection from execution by creditors (up to a certain dollar amount that varies by state) for a property owner's primary residence only. Some states provide automatic homestead protection for the primary residence. Other states require that a separate declaration be recorded in the land records. A homestead exemption does not generally provide any protection for a purchase money mortgage and lenders now have boilerplate language that requires the borrower to subordinate any homestead to their mortgage. Homestead protection varies from state to state.Homestead can also refer to the following:A tax break for home owners offered in certain jurisdictions which sees property tax assessments reduced by a certain percentage as a result of the fact that the taxpayer resides in the property. This may require evidence of the status of ownership to be filed periodically with taxing authority.A homestead is a main dwelling house on a farm along with the adjacent land.A a tract of land whose ownership has been established under the provisions of the United States Homestead Act.Your best bet is to go to your state website and look up homestead exemption so you can get the specific provisions for your state.
What is the most unusual lawsuit?
The judge who filed a multi-million dollar lawsuit against his local cleaners for damaging his pants. He ends up losing his judgeship over the lawsuit and is now suing to get his job back. Very bizarre. Check out the related link.
What is the explanation for the U.S. declaration of war on Germany in April of 1917?
allies were close to losing the war
How do you protect against the risk of losing files?
Data Backup
What does it mean when the county records assignment to a property under lis pendens?
A lis pendens means that there is a lawsuit pending against the owners of the property, and that the outcome of that lawsuit may affect title to the property. Anyone who buys a property subject to a lis pendens risks losing all or part of the property, depending on the outcome of the lawsuit.
Who is the wwf champian?
The WWF changed it's name to the WWE in 2002 after losing a lawsuit with the World Wildlife Federation. The current WWE champ is Sheamus
How does a cactus adapt to its environment by losing its spines?
A cactus adapts to its environment by losing its spines to reduce water loss and protect itself from animals.
What are the benefits of a lawsuit settlement?
The benefits of a lawsuit settlement work for both the plaintiff and defendant. The plaintiff may save on legal fees and the possibility of a losing case by just amicably agreeing to a mutual figure. The defendants could save on a judgment that would be much larger.
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 you sue your state for losing your Social Security number?
If "losing" is a reference to the misuse of or a case of indentity theft due to a state employee's mistake, a lawsuit might be viable, but it would be difficult and expensive. Other then the aforementioned instances it is not possible to lose a SSN.
After losing a lawsuit filed by bram stoker's widow German director fw murnau had to destroy all prints of the movie nosferatu what kind of monster was nosferatu?
vampire
