If you own a home it only make sense to protect your equity from others and it is amazing how few people actually take advantage of it. Most people I speak to don’t even know it exists. This is usually your largest investment and by simply completing a “Declaration of Homestead” form and recording it with the county recorder in the county where the home is located. The recorder charges a fee of usually around $14. In Washoe County, the recorder’s address is: Washoe County Recorder, 1009 East 9 th  street, Reno,  Nevada  89512

Nevada law permits you to protect up to $550,000 of equity in your home. Nevada is one of the most generous homestead exemptions in the country. If you aren’t protected, your home is in danger of being sold should collectors choose to. The Homestead Law does not protect you against debts secured by a mortgage or deed of trust, payment of taxes, IRS lien, mechanic’s lien, child support or alimony payments. Protecting your home with the homestead exemption will protect you from credit card judgments, accidents and personal loans. You can protect only your primary residence — the property in which you live the majority of the time.You can record your homestead at almost any time, even if you have already lost a lawsuit or had a judgment entered against you.

If you have already filed a Declaration of Homestead on your property remember that you will need to prepare and record a new one if you: Sell your home and buy another one, move your mobile home from one lot space to another, marry, divorce or become widowed, get a new loan.

It is always recommend that homeowner’s  seek competent legal counsel regarding the ramifications of filing a Declaration of Homestead.  Below is the Declaration of Homestead form for your to use.

homestead declaration form