Declaration of Abandonment of Homestead - Arizona: This document is used in relinquishing any rights to the homestead exemption for a particular Claimant. Simply stated, the Claimant does not live there anymore and therefore, gives up his/her right to the homestead itself, as well as the exemption involved. It is available for download in both Word and Rich Text formats.
Tucson Arizona Declaration of Abandonment of Homestead
Category:
State:
Arizona
City:
Tucson
Control #:
AZ-REAL-2
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Arizona Declaration Of Abandonment Of Homestead?
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FAQ
The homestead exemption, not exceeding the value provided for in subsection A of this section, automatically attaches to the person's interest in identifiable cash proceeds from the voluntary or involuntary sale of the property.
The Senior Property Valuation Protection Option (Senior Freeze) is available to residential homeowners, 65 years of age or older, who meet specific guidelines based on income, ownership, and residency (Arizona Constitution, Article 9, Section 18.)
Arizona's current homestead protection law affords homeowners the right to shield $150,000.00 of equity from creditors. Now, the Arizona legislature has elected to increase the homestead exemption from $150,000.00 to $250,000.00 effective January 1, 2022.
Obtain a Homestead Declaration Form. Contact the county clerk's office or the tax collector's office for the county in Arizona where the property is located and request a Homestead Declaration Form (see resources for a printable general Homestead Declaration Form).
Arizona's current homestead protection law affords homeowners the right to shield $150,000.00 of equity from creditors. Now, the Arizona legislature has elected to increase the homestead exemption from $150,000.00 to $250,000.00 effective January 1, 2022.
You must be a permanent resident of Arizona and must present Arizona Driver's License or ID. Must be over the age of 17. Must not have property value (with State of Arizona) that Property's total assessed value does not exceed $27,498.
Any person, married or single, age 18 and older residing in the state of Arizona is entitled to own a domicile and hold a homestead. Further, homestead protection applies to dwelling houses, condominiums, mobile homes, and the land upon which that mobile home is located if the person resides in any of these places.
Arizona has a law which allows a homeowner to protect $150,000 in equity from general creditors. It does not apply to mortgage companies or any creditor who has been given a consensual lien from the homeowner. It is called a ?homestead exemption?. It applies to all people who have an ?interest? in property in Arizona.
Under the Arizona exemption system, homeowners can exempt up to $150,000 of equity in their home or other property covered by the state's homestead exemption.
Any person, married or single, age 18 and older residing in the state of Arizona is entitled to own a domicile and hold a homestead. Further, homestead protection applies to dwelling houses, condominiums, mobile homes, and the land upon which that mobile home is located if the person resides in any of these places.