Q: Homestead for California exemption questions.
Hi. So, Under the new 2021 Cali law, $300,000–$600,000 of a home’s equity cannot be touched by judgment creditors.
Does this also apply to properties that the homeowner does not live in? What other resources do lawyers have collect a judgement.
A: It applies only to property occupied by you, or your spouse, or a very close family member. See the actual statute, below, for the definitions, https://casetext.com/statute/california-codes/california-code-of-civil-procedure/part-2-of-civil-actions/title-9-enforcement-of-judgments/division-2-enforcement-of-money-judgments/chapter-4-exemptions/article-4-homestead-exemption/section-704710-definitions
A:
It applies to the principal dwelling. See California Civil Code §§ 704.710 through 704.850.
There are many tools and techniques to collect judgments, including real property lien, bank levies, charging orders, wage garnishment, etc.
A: It's important for both creditors and debtors to understand their rights and obligations under California law. Debtors should be aware of the protections available to them, including the homestead exemption for their primary residence, while creditors should explore all legal avenues for judgment recovery. Consulting with an attorney can provide valuable guidance on navigating these complex legal waters, ensuring that actions taken are both effective and in compliance with state laws.
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