The Homestead Declaration

The Homestead Declaration

...is different from the Homestead Exemption

Note: I am not a lawyer and the information I am presenting is to offer what I know as I understand it. I make no guarantees as to the legal validity of the information. Take what I am about to offer and do your own research or seek counsel for a better understanding of the legalities of the Homestead Declaration.

What is a Homestead Declaration?

A Homestead Declaration is a legal document which can help to protect your homestead in times of economic hardship. Did I get your attention? I want to make sure you understand that the homestead declaration and the homestead exemption are different in every way.

The Homestead Exemption

Homestead Exemption is a property tax exemption to put it simply. The homestead exemption allows a homesteader to exclude part of the property tax that is calculated on the value of the homestead.

Different jurisdictions provide different degrees of protection under homestead exemption laws. Some only protect property up to a certain value, while others are assessed by acreage limitations. If your homestead exceeds these limits, creditors may still force a sell.

A homestead exemption is most often only on a fixed monetary amount, such as the first 50,000 dollars of the assessed value. The remainder is taxed at the normal rate. In this case, a homestead valued at 150,000 would then only be taxed on 100,000; a home valued at 75,000 would only be taxed on 25,000.

The Homestead Declaration

Don’t confuse homestead exemption with the Declaration of Homestead process. There are separate and distinct laws involved in each of these processes. A Homestead Declaration, when properly filed, is an asset protection exemption which can protect your homestead and property in times of economic hardship from liens, judgments and creditors. The homestead declaration is a notarized, recorded claim that declares your homestead and cannot be subject to attachments, judgments or creditors.

A legal judgment resulting from business losses, auto accidents, or an array of other possibilities could result in a plaintiff legally taking a homesteader’s assets. However, the safeguards provided by homestead declaration may just save your homestead. May it be valued from a five thousand dollar spot with a camp trailer to a million dollar, multi acre homestead. The catch is: you must file your Homestead Declaration to protect your home before anything happens.

Some debts must be honored, with or without a Homestead Declaration. If you have put your property up as collateral on a loan or mortgage and default, the homestead declaration does not apply and the homestead can be foreclosed upon. Unpaid property taxes and debts on improvements you made on your homestead are not exempt from the homestead declaration.

To file a homestead declaration: 

You can download the form you need (couples or single) from one of many websites. Next, you’ll fill the form out and sign it in front of a Notary Public. Then, the notarized Homestead Declaration must be filed with the Court Recorder in the county / parish / borough in which the property is located. You don’t need a lawyer to do this either.

P.S. I am not a lawyer and can not guarantee all my info is correct. There is nothing to loose however, so do some research and learn more.



FREE STUFF

I post these Amazon.com links above to show you all a bit of what I think would make for some good reading. If you want some free stuff, here are some links below. NOTE: They are the Kindle version but can be read on a phone using the Kindle app. I think they can be read on the computer too.



If you live in Alabama, Arizona, Arkansas, California, Florida, Georgia, Idaho, Illinois, Kansas, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Dakota, Texas, Vermont, Washington, West Virginia, Wisconsin, and Wyoming, you may be able to file for the homestead declaration. I am not sure about the other states. However, we can always but the living day lights out of some of these law makers to draw up a bill that may become a law to protect our homesteads.

http://en.wikipedia.org/wiki/Homestead_exemption
http://www.homesteadus.com/faq.htm
http://www.networthjourney.com/declaration-of-homestead/
http://findforms.com/search.php?q=homestead
http://findforms.com/single_form.php/form/f10253/Idaho_Homestead_Declaration_Couple_Homestead_Idaho
http://www.canyonco.org/assessor.aspx?id=8343
http://www.motherearthnews.com/Modern-Homesteading/1982-07-01/Stop-Financial-Downfall.aspx

Back to the Homestead - Homestead Journal Show Notes

Back to the Homestead

Keeping a Garden Journal

 Keeping records is not something that I enjoy much. I just want to get things done and not worry about all the logistics. Maybe it's because I am a nurse and a huge part of nursing is documenting and keeping records; it seems like half of the duties in nursing is writing something down that we just did. However, keeping records ensures we medical folks don't repeat something that didn't work and we can repeat which worked well the last time. Keeping a garden journal...or better yet...keeping a homesteading journal could end up saving time and money (as if these two things are separate entities). A homestead journal may very well keep you from making the same old mistake year after year after year.

If you are anything like me, when to plant is a guessing game. If we plant too soon, the frost gets us. If we plant too late, our harvest comes in late. If we keep simple garden records, we'll be better equipped based on the mistakes from years past. It's the same way with harvesting. What if we planted 100' of purple hull peas, grew them, picked them, hulled them and preserved them and by New Years, we had eaten all that we grew? A garden journal could remind us next year to increase our planting and subsequently our harvest.
Keeping a homestead journal is as important as keeping a canning cookbook or maintenance record on an automobile. With a project as extensive as homesteading, a journal is vital.

Now, we here on the Walker Homestead aren't sitting around writing notes in our homestead journal. We've been busy! The chickens are pinned up and they told me exactly what they think of the new arrangement (in chicken talk). We got some rows pulled and some potatoes planted. We "woke up" the yard, cut back the raspberries, sifting compost, fixing water lines, weeding, refreshing, fertilizing and getting a red neck to boot!
I have put together a garden journal that you can use. They are in both word and PDF format. You can do what ever you like with them. Add stuff. Take stuff out. Modify stuff. The sky's the limit. You may it your own.

Here's the PDF format: backtothehomestead.com/homestead_garden_journal.pdf

I hope this journal is helpful. Let me know what you think.

I often get a book or two on homesteading, gardening and other how-to's from time to time. However, the other day, I picked up a book called The Boy Who Harnessed the Wind. It's about a young boy from Malawi, a country in Africa, who put together a device he called "electric wind." In his language, there is no word for "windmill." This fellow named William Kamkwamba and his family pulled themselves through a period of famine that we all hope we never have to go through. During this period of time, he would sneak into school (notice I said "into school"). When he got caught and expelled, he would dig around the dump yards and learn from the devices other would just throw away. If you are looking for a motivational read while you rest between chores, this is the book for your summer.

Here's what Amazon says:

With nothing more than a fistful of cornmeal in his stomach, a small pile of once-forgotten science textbooks, and an armory of curiosity and determination, he embarked on a daring plan to bring his family a set of luxuries that only two percent of Malawians could afford and what the West considers a necessity—electricity and running water. Using scrap metal, tractor parts, and bicycle halves, William forged a crude yet operable windmill, an unlikely contraption and small miracle that eventually powered four lights, complete with homemade switches and a circuit breaker made from nails and wire. A second machine turned a water pump that could battle the drought and famine that loomed with every season.


Keep on growing and remember: Don't worry too much about it. Just do all you can do and let the rough end drag.

SULAE