Bankruptcy
Mar. 4, 2021
New homestead exemptions, personal guaranties: Time to negotiate?
As of Jan. 1, the California homestead exemptions have changed significantly. Section 704.730 of the Code of Civil Procedure increased the homestead exemption to at least $300,000, and to as much as $600,000 (depending on a county’s median home prices).
As of Jan. 1, the California homestead exemptions have changed significantly. Section 704.730 of the Code of Civil Procedure increased the homestead exemption to at least $300,000, and to as much as $600,000 (depending on a county's median home prices).
In Los Angeles and Orange Counties, no surprise, the homestead exemption is at the maximum $600,000 level, which is a significant change. In 2020, the largest exemption available was...
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