This comprehensive guide delves into how the Act not only safeguards your home's equity but also plays a pivotal role in scenarios like divorce and bankruptcy. The dwelling may be a house, condominium, or mobile home.The Arizona homestead exemption is automatic you don't have to file a homestead declaration to claim the homestead exemption in bankruptcy. Application deadline date is September 1st of the current year. Learn about Arizona's homestead exemption laws, including eligibility, benefits and how they protect your home from creditors in estate planning.