How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
A new question is answered every 9 seconds

Ask a Lawyer

Tina
Tina, Lawyer
Category: General
Satisfied Customers: 8603
Experience:  JD, BBA Over 25 years legal and business experience.
4460311
Type Your Legal Question Here...
characters left:
8 Lawyers are Online Now

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it. Lee Michigan
 
 
 

Homestead Act Questions

Homestead exemption was put into place to protect the equity of a homeowner's home from creditors, property taxes, and situations that evolve from the death of the spouse of a homeowner. Homestead Act laws can be found throughout state statutes that provide for homestead exemptions. Below are several of the more commonly asked Homestead Act related questions and homestead exemption questions that have been answered by Experts.

What does filing a Homestead Act do for the home owner?

The homestead exemption and the declared homestead are the two types of homestead protection. If you own a home, are living in the home when a lien is attached to the property and if you live there through the duration of the date that the court decides that the property is a homestead, a homestead exemption is automatic. The exemption also protects $75,000 in equity for the single owner who is under 65 years old. Depending upon factors like age, income, Disability, etc. the protection can go up to $100,000 and $175,000.

A declared homestead occurs when a person records a declaration of the basic facts of their home such as the legal description of the home before the recording of a judgment against the property. You will have $75,000 in equity protection in the declared homestead and you can sell the property as long as your reinvest the money in another house within six months. The declared homestead will also protect $75,000 in equity in the event of a Foreclosure. However, you will only have protection for six months. When the property owner dies, the homestead exemption rights will pass to the heirs of the owner's estate.

Under the AZ Homestead Act, do you have to pay off unsecured judgments, credit cards, med. , before you can sell your property?

Arizona Homestead Act does allow the homeowner to protect $150,000 in equity from any liens that are not consensual. The homestead exemption is automatic therefore there is no need to take any actions to qualify.

You will have to file a Motion to Set Aside Judgments That Impair Homestead Exemption. You need to state that you lived on the property when the judgments were attached to the property and that you still live there. When filing a motion like this, you cannot afford any mistakes. You may want to consider hiring an attorney to file the motion for you.

Is there a tax from the Homestead Act if a home is sold in N Providence RI. ?

There is a property tax in N Providence, and is $16.75 per thousand of the assessed value of the home. There is a 20% discount on the total tax of the property for the homestead exemption. The seller of the home has to claim the sale on their personal taxes while a portion of the property taxes will be transferred to the buyer. In other words, the buyer pays property taxes on the property for the time that they own the property for that year. The seller will pay the property taxes for the portion of the year that they owned the property, unless there are other arrangements agreed upon in a contract.

Does Maine's Homestead Act protect a home owner against forced sales by creditors, such as Florida's does?

While Maine has a homestead exemption law, it isn't unlimited like Florida's homestead exemption law. In Maine, the homestead has up to $47,000 in equity protection over the amount of a mortgage; up to $95,000 if there are minor dependents in the home; $95,000 if the debtor is over 60 years of age or has a physical or mental disability (this amount may double if there are joint debtors in this category); proceeds of the sale are exempt for 6 months. Any equity that exceeds these amounts would be at risk.

Most states have Homestead Acts that offer protections for the homeowner. Homestead exemption is one for of protection provided by the Homestead Act. If you would like to learn more about the Homestead Act and homestead exemptions, you should ask an Expert. An expert can answer all of your questions regarding the Homestead Act.

Ask a Lawyer

Tina
Tina, Lawyer
Category: General
Satisfied Customers: 8603
Experience:  JD, BBA Over 25 years legal and business experience.
4460311
Type Your Legal Question Here...
characters left:
8 Lawyers are Online Now

How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Lawyers are online & ready to help you now

Tina
Lawyer
Satisfied Customers: 8436
JD, BBA Over 25 years legal and business experience.
Ely
Counselor at Law
Satisfied Customers: 19941
Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
FiveStarLaw
Attorney
Satisfied Customers: 8189
25 years of experience helping people like you.

Recent Homestead Questions

  • I have a pepperidge farm route in Az. When we have sales, Pepperidge puts up the money for

    I have a pepperidge farm route in Az. When we have sales, Pepperidge puts up the money for the sales we have. They just announced a special program where instead of putting up money they are just reducing the wholesale of an item. So then wal mart can put that item on sale. Sales have never worked this way. I think it is a clear violation of our contract. Because it reduces my commission
  • Hello, I have a structured settlement, resulting from a

    Hello,
    I have a structured settlement, resulting from a personal injury case that was settled out of court by my mother on my behalf, when I was a child.
    I am now 26, and for the last few years have been receiving a monthly income of $393.87 on the 9th of each month, paid out by MetLife Insurance; these payments are guaranteed to my estate until 8/9/2050.
    I would like to convert the set of payments from 3/9/2015 thru 8/9/2050 (the aggregate amount of which totals $167,788.82) into a lump sum, at the most advantageous present value.
    The discounted present value at the federal interest rate of 2% is $120,073.11.
    In looking to sell this income stream to the highest bidder, I have approached companies such as PeachTree, who have offered a net present value lump sum of $60,000. (This works out to a discount rate of about 7.43% or 7.5% (depending on how the math is done) that is being applied.)
    No deal has been made yet; what was disclosed to me by PeachTree in their disclose statement was that "BASED ON A PRICE QUOTE FROM METROPOLITAN LIFE INSURANCE COMPANY THE CURRENT COSTS OF PURCHASING A COMPARABLE ANNUITY FOR THE AGGREGATE AMOUNT OF PAYMENTS TO BE TRANSFERRED IS $102,096.00." (That works out to a discount rate of about 3.1%.)
    I feel that by proceeding with the offer I've received from PeachTree, I'd be losing over $40,000, as compared to the quote generated directly from MetLife Insurance. (Not a bad profit for them, considering the time invested on their part as well as the principal amount of the transaction.)
    So, in looking to obtain a much larger cut of the pie than $60,000, I decided to call MetLife to see if they themselves were interested in dealing with me directly, and to see whether they were willing and able to buy back the monthly payments in exchange for a price that's much more similar to their original quote.
    As it turns out, according to the representative on the phone, apparently due to some kind of regulations or law, companies such as MetLife cannot alter payments directly in such a manner--and that it would have to be a third party that would have to come in to make an investment.
    However, she did recommend that a much better option would be to speak with a lawyer--preferably the lawyer(s) who helped structured the settlement originally, in order to somehow "restructure" the agreed-upon payments to convert them into a present-value lump sum--and that this would be much more advantageous than taking the $60,000 with the ~7% discount rate applied by PeachTree.
    I do not know who the original lawyers are, as my mother was the one who took care of all that when I was very young. I would most wholeheartedly appreciate a professional opinion as to: (1) what my best, ***** ***** lucrative options would be in this case, to recoup as much of a present amount as I can for present use; and, (2) if there would be any tax implications, despite the monthly payments always having been tax-free due to it being settlement income resulting from personal injury.
    Thank you very much for your time and your most useful answers!
  • We live in the state of Washington. My mother is 92 years

    We live in the state of Washington. My mother is 92 years
< Last | Next >
View More Legal Questions