Secure Debt Shall With No Interest In Contra Costa
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FAQ
A debenture is a type of debt instrument that is not backed by any collateral and usually has a term greater than 10 years. Debentures are backed only by the creditworthiness and reputation of the issuer. Both corporations and governments frequently issue debentures to raise capital or funds.
A credit card cannot be used to secure a debt because it represents unsecured debt, unlike physical items such as a house or a car, which can serve as collateral.
Certain items may not qualify as collateral due to their nature or restrictions, including: Perishable goods: Items like food or plants are not suitable. Future earnings: Expected salaries or potential inheritance cannot be pledged. Illegal assets: Anything obtained unlawfully is disqualified.
There are four main types of security: debt securities, equity securities, derivative securities, and hybrid securities, which are a combination of debt and equity.
Secured debts A secured debt is tied to specific property, like a house. The creditor has the right to repossess property you put up as security if you don't make your repayments. If this occurs you must assist with this recovery action.
If you own and occupy your home as your principal place of residence on January 1, you may apply for an exemption of $7,000 off your assessed value for an annual savings of approximately $70 on your property taxes. New property owners will automatically receive an exemption application.
You must occupy the dwelling as your principal residence as of January 1 of each year to qualify for the Homeowners' Exemption for that year.
A homestead declaration protects your home's equity from both to forced and voluntary sales of the property. Exempt proceeds from a voluntary sale are protected if another home is purchased within 6 months.
Declaration of Homestead – A document recorded by either a homeowner or head of household on his primary residence to protect his home from forced sale in satisfaction of certain types of creditors' claims. Decree of Distribution – Evidences the distribution of real property from the estate of a deceased person.
