Complete a homestead declaration form. Sign your declaration in front of a notary.Simply put, a homestead exemption protects your residence's equity from creditors. Currently, the California homestead exemption is automatic, meaning that a homestead declaration does not need to be filed with the county clerk. 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. Before you use this form, fill in all blanks, and make whatever changes are appropriate and necessary to your particular transaction. Homestead exemptions can protect home equity, up to a certain dollar amount, from a homeowner's creditors, up to a certain dollar amount. For example, if your overall tax rate is. State law requires that all tangible property (real and business property along with certain personal property) be taxed in the State of California.

Homestead Act Example In San Bernardino

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