This can provide asset protection from creditors for at least some of house's value. An individual is entitled to a homestead exemption consisting of property in this state in an amount not exceeding:Section 8 of the Homestead Act of 1862 allowed persons who did not want to wait five years to complete their entries to. A Utah homeowner will file a homestead exemption application with the county recorder in the location of their property. Protection under homestead laws is typically limited to "natural persons" who reside in the applicable jurisdiction. Douglas County has additional exemptions for 62 years of age or older, disabled veterans or their surviving spouses, and totally disabled homeowners. Each state's homestead laws can vary, especially in the limits they place on the value or acreage of property to be designated as a homestead.
