Asset Protection Sitemap | Contact Us   
   Topical Research | | Lexicon | BLOG | Discussion  
   Navigation
 
Asset Protection Specific Industry Concerns Professional Practice Concerns Exemption Planning Business Entities Captive Insurance Trusts & Foundations Transactions & Transfers International & Offshore State Resources Articles & Publications Asset Protection Chapters Other Website Features

Call Toll-Free
1-888-359-8851

   Recommended Reading

Financing Accounts Receivables for Retirement and Asset Protection
by Ronald J. Adkisson

Accounts Receivables Financing

   See Also

Riser Adkisson
http://www.risad.com

 

California

From: California Legislative Information site

CALIFORNIA CODES
CODE OF CIVIL PROCEDURE

SECTION 704.730

704.730. (a) The amount of the homestead exemption is one of the
following:

(1) Fifty thousand dollars ($50,000) unless the judgment debtor or spouse of the judgment debtor who resides in the homestead is a person described in paragraph (2) or (3).

(2) Seventy-five thousand dollars ($75,000) if the judgment debtor or spouse of the judgment debtor who resides in the homestead is at the time of the attempted sale of the homestead a member of a family unit, and there is at least one member of the family unit who owns no interest in the homestead or whose only interest in the homestead is a community property interest with the judgment debtor.

(3) One hundred fifty thousand dollars ($150,000) if the judgment debtor or spouse of the judgment debtor who resides in the homestead is at the time of the attempted sale of the homestead any one of the following:

(A) A person 65 years of age or older.

(B) A person physically or mentally disabled and as a result of that disability is unable to engage in substantial gainful employment. There is a rebuttable presumption affecting the burden of proof that a person receiving disability insurance benefit payments under Title II or supplemental security income payments under Title XVI of the federal Social Security Act satisfies the requirements of this paragraph as to his or her inability to engage in substantial gainful employment.

(C) A person 55 years of age or older with a gross annual income of not more than fifteen thousand dollars ($15,000) or, if the judgment debtor is married, a gross annual income, including the gross annual income of the judgment debtor's spouse, of not more than twenty thousand dollars ($20,000) and the sale is an involuntary sale.

(b) Notwithstanding any other provision of this section, the combined homestead exemptions of spouses on the same judgment shall not exceed the amount specified in paragraph (2) or (3), whichever is applicable, of subdivision (a), regardless of whether the spouses are jointly obligated on the judgment and regardless of whether the homestead consists of community or separate property or both.

Notwithstanding any other provision of this article, if both spouses are entitled to a homestead exemption, the exemption of proceeds of the homestead shall be apportioned between the spouses on the basis of their proportionate interests in the homestead.

 

spacer
Nothing in this website is any substitute for the legal advice or opinion of a licensed attorney in your state. This website is simply a starting resource for information on the topics herein and does not claim to provide any definitive answer and should not be relied upon for any purposes whatsoever. Non-professionals should seek the assistance of a licensed attorney in their jurisdictions, and professionals should please consult the primary source materials such as statutes and case laws directly. Nothing in this website may be relied upon under IRS Circular 230 to avoid penalties for an incorrect tax position.

Adkisson Publishing Inc. is not a law firm and does not provide any legal service of any nature whatsoever. Adkisson Publishing Inc. is a publisher of books, websites and provides speakers on various topics. The person responsible for this website is Jay D. Adkisson in his capacity of President of Adkisson Publishing Inc. and questions regarding it should be addressed to him at Adkisson Publishing, Inc., P.O. Box 7088, Laguna Niguel, CA 92677.

spacer© 2007 by Adkisson Publishing Inc.. All rights reserved. No portion of this page or any portion of this website may be reprinted or otherwise duplicated without express written permission of Adkisson Publishing Inc.. Legal issues should be faxed to (877) 698-0678.
Additional Important Information

Captive Insurance -- Equity-Indexed Annuities -- Accounts Receivable Financing
Financial Scams and Tax Frauds Revealed -- LostEye -- Contact

Proud Supporter of Quatloos.com