In California a homestead was recorded in 1992. The homestead exemption was increased for a 65 yr old from $150,000 in 2009, to $175,000 in 2010. What is the current amount of the homestead exemption for a 65 yr old if a judgment is recorded in 2009, but a writ of execution was not filed until 2011 and no levy of execution has been filed to date?
Real Estate Attorney
Given your facts, I would argue that the current homestead of $175,000 applies.
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The critical date, to determine the homestead exemption, is when the exemption is claimed. So, for example, if it is claimed in 2013 the exemption is $175,000 for a person 65 or older using the most liberal 704 exemptions.
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