I live in Houston, TX and I want to declare my primary residence as a homestead to protect against unsecured creditors, etc. What steps must I take to do this. I know there is a homestead exemption form 50-114 for tax purposes, but does it also serve as a homestead declaration even though it's worded as an "exemption", or should I also file a homestead declaration document which they sell at office depot or any doc store? By the way, there are 2 people on title (me and my father). Should both of us file the single person forms?
You are correct that the property tax exemption form does not establish your homestead exemption as to creditors. However, there is no formal declaration to file to establish your homestead as to creditors. As long as own the property and are living there (or intend to return) the property will be exempt. I wouldn't use the form you found at Office Depot.