Sunday, January 17, 2010

California Bumps Up Homestead Exemption Protection For Homeowners Against Forced Sale By Judgment Creditors

In California, the Sierra Sun reports on, among others, the following change in California law:
  • Assembly Bill 1046 [Section 2] increases homestead exemptions for homeowners across the board by $25,000 each, so the exemption for a single person is now $75,000, for a married couple it is $100,000 and for the disabled and the elderly, it is $175,000. That is the amount of equity in your home you can protect from creditors.

Source: New laws for the new year.