Filing a Homestead Declaration
If you own a home, you should consider filing a homestead
declaration with the County Recorder in your county. A
homestead declaration protects your home from being seized and
sold in the event that a money judgment is entered against you
by a court.
What kinds of property may be declared as a homestead?
Four types of property may be homesteaded:
(1) Land with a dwelling house on it plus appurtenances
(fixtures and buildings).
(2) A mobile home, whether or not the mobile home owner owns the
land on which it sits.
(3) A condominium unit.
(4) Land, dwelling house and appurtenances held under an
allodial title (a title free and clear of any encumbrances for
which taxes have been prepaid to the state).
Who decides to declare a homestead?
A single person or, in the case of a married couple, either or
both spouses.
If
someone obtains a money judgment from a court against me, how
will a homestead declaration protect my home?
For most judgments against you, a homestead declaration protects
the first $125,000 of equity you have in your home. If you have
less than $125,000 equity in your home and the judgment is not
of the type listed below, your home will not be sold to satisfy
a judgment. If your equity exceeds $125,000, the property (or a
portion of it if a court determines it can be divided) may be
sold, but you are entitled to keep the first $125,000. If
allodial title has been established, the exemption extends to
all equity in the land, dwelling and appurtenances.
A homestead declaration will not prevent your home from being
sold to pay a judgment for:
• Taxes.
• A mortgage, trust deed or other loan arrangement used to
purchase or refinance your property or improvements to your
property.
• A mechanic’s lien or other obligation to pay because of
improvements made to your property.
• Any lien to which you agree by accepting the property subject
to codes, covenants and restrictions, deed restrictions or
equitable servitudes.
What information must I include in a homestead declaration?
If an unmarried person is making the homestead declaration, it
must state that the person is a householder. If a married person
or persons sign the homestead declaration, it must state if the
person or persons are married.
• Regardless of the martial status of the signer of the
declaration, it must state that the intention is to use and
claim the property as a homestead.
• When the homestead declaration is signed by a married person
or persons, it must state that the spouse or spouses are
residing with their family, or with a person or persons under
their care and maintenance, on the homestead premises.
• If the premises are the separate property of one spouse, both
spouses must join in signing the homestead declaration.
• The premises claimed should be described by a full address and
a full legal description. The deed to your property will contain
the legal description.
How do I file a homestead declaration?
You can purchase a form from an office supply store. After the
necessary information has been filled in, the person or persons
who will sign the homestead declaration must sign it in the
presence of a Notary Public, who will notarize the signature. A
Notary Public can be found in banks, law offices, real estate
offices or title companies. Finally, the notarized Declaration
of Homestead must be filed with the County Recorder in the
county in which the property is located. There are small fees
for notarization of documents and for their recording with the
County Recorder.
May a homestead be filed for property held by the type of
title known as “tenancy in common?”
Yes. Each tenant in common may declare a homestead covering his
or her interest in the property. The homestead protection is
subject to the rights of each co-tenant to enforce partition of
the property.
What is the appropriate time to file a homestead declaration?
Because no one can predict when death or sudden incapacity may
strike, it is prudent to file a homestead declaration upon
purchasing a home and taking title to it, or as soon as possible
thereafter. However, a homestead will protect up to $125,000 of
your equity in your home provided that it is recorded with the
County Recorder at any time before proceedings are instituted to
cause the forced sale of your home to satisfy a judgment. So,
even after a judgment has been entered against you, it is
possible to record a homestead declaration.
Suppose I have more than $125,000 in equity in my home. What
are the procedures if there is a judgment against me?
A judge normally will appoint three appraisers who will
determine the value of the property, your equity in it and
whether the property can be divided in such a way as to protect
your home while paying your judgment creditors. If such a
division proves to be impractical, the property will be sold and
you will receive the first $125,000 from the sale, which cannot
be seized to pay the judgment.
Can I prepare a homestead declaration myself?
The declaration itself is a simple one-page form. If you follow
the proper steps, particularly in noting the correct legal
description of the property and having it notarized and
recorded, you should have no difficulty. If you feel unsure or
have specific legal problems arising out of a judgment or
potential judgment against you, you should consult an attorney.
How do I find an attorney with experience in Homestead
matters?
You can contact the State Bar of Nevada’s Lawyer Referral &
Information Service at 702-382-0504 (toll free in Nevada at
800-789-5747) or look in the Yellow Pages of your telephone
directory. You can also ask friends and/or relatives if they can
recommend a good lawyer. The State Bar can tell you whether or
not an attorney is licensed in Nevada and in good standing.
State Bar of Nevada
600 E. Charleston Blvd
Las Vegas, NV 89103
702-382-2200
Revised Form and Information
Questions? Contact Dawn Gearhart
at 702-382-2200
Multijurisdictional Practice
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For questions, please contact CLE
at 702-382-2200
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