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Utah Homestead Declaration following Decree of Legal Separation or Divorce

Category:
Real Estate - Homesteads
State:
Multi-State
Control #:
US-02099BG
Format:
Word; 
Rich Text
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Description

Ordinarily, the declaration must show that the claimant is the head of a family. In general, the claimant's right to select a homestead and to exempt it from forced sale must appear on the face of the declaration, and its omission cannot be supplied by extraneous evidence. Under some statutes, a declaration of homestead may be made by the owner or by his or her spouse.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

Utah exemption law allows bankruptcy debtors to exempt much of their personal property, including a vehicle up to $3,000 per person, furnishings, guns, heirlooms, retirement accounts, certain insurance proceeds, medical devices, and many more.

Basically, a homestead exemption allows a homeowner to protect the value of her principal residence from creditors and property taxes. A homestead exemption also protects a surviving spouse when the other homeowner spouse dies.

Most homeowners in Utah receive a 45% exemption from property taxes on their homes (or ?primary residence?). If you occupy your home for at least 183 consecutive days in the year, you likely qualify for this exemption.

You may be eligible for the primary residential exemption if you occupy your home for 183 consecutive days or more in a calendar year. The exemption applies to your house and up to one acre of land. Apartments, condos and mobile homes also qualify.

Utah Bankruptcy Exemptions for Personal Property This includes home appliances, carpets, bedding, furniture, firearms, family heirlooms and items that hold sentimental value. The amount of equity you can protect varies, but generally doesn't exceed $1,000 for any item category.

Property is divided by the Utah courts during a divorce. Divorce laws in Utah state that marital property should be divided equitably. This means that a Utah court could decide that it is fair to split the marital property 50-50 or they may decide that one party deserves more than 50% of the property.

Utah is an equitable distribution state that doesn't have community property laws.

All mechanics' liens have equal priority and relate as a whole back to the date on which work actually commenced on the project. Declaration of Homestead: The purpose of a homestead is to provide a home free from the fear and anxiety that it will be lost to blank. creditors.

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