Why would you file a Declaration of Homestead? Or what is the reason you would Homestead your home? ?

Question

And can you hand write this form? I need to go bankrupt but everyone has told me to go Homestead my house first. Why?

Answer 1

Your homestead exemption is determined by the County Assessor's office, which assesses the value and tax on your property.  If this is your primary residence, then it is your homestead.  This may have already been done when you purchased the home.  You can call your Assessor's office to check this out.

As far as I know, all bankruptcies have to be filed electronically now, and supposedly has to be through an attorney.  You can call your bankruptcy court clerk, and they can give you the free information.

Answer 2

The source has some general information.  If you are going to file bankruptcy, you need to work with a lawyer.  The lawyer should be your best advice on this.

Answer 3

are you referring to a homestead exemption?  That gives you a huge break on your property taxes.   In my state of Louisiana it covers 80,000 dollars on your property taxes.   Otherwise, I am not sure why you would file that in place of a bankruptcy.   Usually when you purchase a home that is already done.

Now you may be speaking of something else in your state and if so I have no idea what "go homestead" means.