Buying A Henderson Home: What Is A Declaration Of Homestead?

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Real Estate Agent with Keller Williams Realty The Marketplace NV License # 56750

Buying A Henderson Home: What Is A Declaration Of Homestead?

Home ownership is one of the greatest priveleges of a lifetime. Nevada recognizes that a home is usually someone's largest asset, and has enacted laws to protect it. A Declaration of Homestead can protect the equity in your home up to $550,000 against financial challenges resulting from medical bills, bankruptcy, and other general creditor claims.

Homes in Calico Ridge in Henderson NV
The Declaration of Homestead is a simple one-page form that can be filled in online or downloaded and completed in black ink. To find your parcel number, look at the top of page one of the Residential Purchase Agreement, ask your real estate agent, or you can look it up on the Clark County Assessor's site by entering your address. The parcel number uses this format: ###-##-###-###.


When the form is filled in, sign it in the presence of a notary, then file it with the Clark County Recorder. The current filing fee is $14.

 

 

For many Nevada homeowners, the Declaration of Homestead can be one powerful little document. Take a few minutes to protect your home's equity. For more information, see Nevada Revised Statutes Chapter 115 - Homesteads or consult an attorney.

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Rainmaker
525,177
Maria Morton
BHG Real Estate - Kansas City Homes - Kansas City, MO
Kansas City Real Estate 816-560-3758

John, this is great information for homeowners in Nevada. Thanks.

Feb 11, 2011 12:02 AM #1
Rainmaker
1,970,616
Roy Kelley
Retired Real Estate Broker, Maryland Blogger - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Very good information. Buyers from our area would not know about a Declaration of Homestead. Have a great day and a wonderful weekend.

 The colors of winter in Maryland. Life is good!

Feb 11, 2011 06:14 AM #2
Rainmaker
911,139
Tony Marriott
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Associate Broker, REALTOR

 A Declaration of Homestead can protect the equity in your home up to $550,000

Interesting - I wonder if there is something similar in Arizona.

Feb 11, 2011 06:24 AM #3
Rainmaker
412,175
The Scott Loper Team Lansdale & Harleysville PA Homes
Keller Williams Real Estate - Montgomeryville - Lansdale, PA

Hi John,

I don't think we have anything specifically like that here in PA, but it sounds like a good thing especially in the case of medical bills. But I think there are other provisions that would still protect your primary residence in all of these cases.

Lisa

Feb 11, 2011 07:01 AM #4
Rainer
210,574
Joe Kenny
Realty Executive Midwest - Darien, IL
Better Than Your Average Joe

John, it's good information to have.  We all should know what our states laws are on these types of issues.  Thanks for posting.

Feb 11, 2011 11:32 AM #5
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Rainmaker
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John Novak

Henderson, Las Vegas and Summerlin Real Estate
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