Can I file a Homestead Declaration even though my home is held by a community property trust with my wife?

My wife and I bought a primary residence home last year. We formed a community property living trust and transferred the property to the trust. I'd like to protect the equity by filing a homestead declaration, but I am not sure whether I am allowed to do so if the property is held by our living trust?

Oakland, CA -

Attorney Answers (3)

Samuel G Lockhart

Samuel G Lockhart

Real Estate Attorney - Murrieta, CA
Answered

Yes, you can record a homestead declaration. I am assuming you set up a Revocable Living Trust with you and your wife as Trustees of the Trust. If so, your trust is not a separate entity. Thus, for all intents and purposes, you are the owner of your home.

Chi Leung Ip

Chi Leung Ip

Real Estate Attorney - El Monte, CA
Answered

If what you have is a living trust (not an irreversible trust) and you live there as your primary home, you can file your homestead declaration. Edward C. Ip www.lawyer4property.com

No attorney / client relationship established. The answr is for discussion and general information only. The... more
Eric Jerome Gold

Eric Jerome Gold

Estate Planning Attorney - Calabasas, CA
Answered

So long as your community property trust is a revocable living trust (not an irrevocable trust), you should be able to file the Homestead Declaration.

** LEGAL DISCLAIMER ** My response above is not legal advice and it does not establish an attoreny-client... more

Questions? An attorney can help.

Ask a Question
Free & anonymous.
Find a Lawyer
Free. No commitment.