Homestead Exemption Forms Without In Nevada
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FAQ
Originally intended to protect families from losing their farms, homestead laws now apply to homes, condos and residential cooperatives. Nevada's homestead law calls for an automatic exemption that protects equity in a home up to $550,000.
Refinancing the house does not change who owns the house. For example, if you added your spouse as a co-owner of the house, then you'd want to re-record a new homestead declaration; if you added someone (spouse/parent/child) as co-owner, you'd want to re-record a new homestead.
Homestead Exemption Lawyers in Las Vegas An individual may only claim one residence as his or her Homestead, and the Homestead Declaration may be filed at any time before a sheriff's sale.
The current version of the State law is found in Chapter 115, “Homesteads,” of the Nevada Revised Statutes (NRS). To be eligible for the homestead exemption, State law requires a person to declare a homestead and to record that declaration with the county recorder of the county in which the property is located.
If a home is held in the name of a living trust, Nevada still allows the home to be protected under the homestead law. (NRS 115.020(5). Unfortunately, the homestead law does not apply to investment/rental property.
