Take advantage of Nevada’s Homestead Law (NRS Chapter 115)
In the State of Nevada we have a Homestead Law referred to as a “Declaration of Homestead”. If you are a homeowner, this is an important and beneficial declaration available to you. Not all states have a Declaration of Homestead. It is important to check with your state of residence to determine specifics of any homesteading protection. In Nevada, only your primary residence is eligible. We understand that Nevada has one of the best homestead laws.
A Declaration of Homestead protects the first $550,000 of equity in your home from an unsecured creditor from filing a judgement/lien on your home. Without this protection, you might be forced to sell your home to satisfy the judgement or lien. It is a simple process to file a Declaration of Homestead with your specific county in Nevada.
As part of our motto “We Do Good Deeds !”, we know that homeowners can complete and record the Declaration of Homestead on their own. For this purpose we would like to provide you with the link the Clark County’s Homestead information page where you can download and complete the form on your own.
We also know that some people are not comfortable completing unfamiliar government forms. For that reason, and for a limited time, for new customers only, we will be happy to complete the form for you at no charge. We will email you the completed form to be signed, notarized and recorded by you. There is a nominal recording fee which varies slightly by county which you will incur.
Here is the link to Clark County’s Assessors page for the Homestead form.
http://www.clarkcountynv.gov/assessor/services/Pages/Homestead.aspx
A Declaration of Homestead will not protect your home from everything. According to the State Nevada Bar Information Brochure, here are a list of circumstances whereby a homestead declaration does NOT prevent your home from being sold to satisfy a judgement: Informational Brochure
- A Mortgage and Deed of Trust which was recorded with the county recorder’s office to secure a note on your home. If you purchased or refinanced your home and the home was used as the collateral, then this secures the obligation (i.e.: the note) to the property by way of a Deed of Trust. Here’s the scenario: When you purchase your home and borrow money from a lender (i.e.: the Note), that note is secured by way of a Deed of Trust to the property. If you do not pay your loan as agreed, then the lender has the right to foreclose on the property.
- Property improvements: If you have any type of work performed on your property and you do not pay the bill, then the craftsman has the ability to file a “mechanics lien” to collect their fees.
- Taxes: do we need to say anymore?
- Homeowners Association Dues: When you purchased your home you accepted the community “CCR’s” i.e.: Covenants, Conditions and Restrictions, and you agreed to make these payments as a homeowner in that community.
We encourage all of our clients to explore the Nevada Declaration of Homestead which can provide a level of peace of mind. Please feel free to call (702.233.4014) or email ([email protected]) our office with any questions or to request that we email you the form.
Disclosure: SERVICE PROVIDER IS NOT AN ATTORNEY IN THE STATE OF NEVADA NOR IN ANY OTHER STATE OR JURISDICTION. SERVICE PROVIDER IS NOT LICENSED TO GIVE LEGAL ADVICE AND MAY NOT ACCEPT FEES FOR GIVING LEGAL ADVICE.
QUICK CLAIM USA 702.233.4014
