The Homestead Declaration must be recorded with the County Recorder to be valid. Before you use this form, fill in all blanks, and make whatever changes are appropriate and necessary to your particular transaction.The new law eliminates many qualifying conditions and provides a homestead exemption to anyone with a principal residence. To claim the exemption, the homeowner must make a one-time filing with the county assessor where the property is located. If known, fill in the parcel number of the property for which you are seeking a homestead exclusion. A homestead exemption protects home equity from a homeowner's creditors up to a certain dollar amount.