Buying A Henderson Home: What Is A Declaration Of Homestead?
Home ownership is one of the greatest priveleges of a lifetime. Nevada recognizes that a home is usually someone's largest asset, and has enacted laws to protect it. A Declaration of Homestead can protect the equity in your home up to $550,000 against financial challenges resulting from medical bills, bankruptcy, and other general creditor claims.
The Declaration of Homestead is a simple one-page form that can be filled in online or downloaded and completed in black ink. To find your parcel number, look at the top of page one of the Residential Purchase Agreement, ask your real estate agent, or you can look it up on the Clark County Assessor's site by entering your address. The parcel number uses this format: ###-##-###-###.
When the form is filled in, sign it in the presence of a notary, then file it with the Clark County Recorder. The current filing fee is $14.
For many Nevada homeowners, the Declaration of Homestead can be one powerful little document. Take a few minutes to protect your home's equity. For more information, see Nevada Revised Statutes Chapter 115 - Homesteads or consult an attorney.