Oct 26 2009
New real estate laws - part 2
Coming into effect on January 1, 2010, the homestead exemption protecting a homeowner's equity from judgment creditors has been increased by $25,000 across the board to $75,000 for individuals, $100,000 for married couples or family units as specified, and $175,000 for persons over 65 years, disabled, or over 55 years with limited income as specified. Assembly Bill 1046.
If you have not filed a homestead exemption, check with your county assessor's or recorder's office to get more information. It applies to a owner-occupied, primary residence.
For more info from the source, click here.
