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Minnesota real estate - Is homestead property immune form

minnesota real estate -...
minnesota real estate - Is homestead property immune form judgment creditors and federal tax liens- how is a homestead created?
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: minnesota
JA: Has any paperwork been filed?
Customer: judgments entered in civil court. and fed tax liens filed with recorder
JA: Anything else you want the lawyer to know before I connect you?
Customer: How is a homestead established from a legal point of view
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Answered in 3 minutes by:
11/29/2017
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 44,464
Experience: Texas Attorney for 30 years dealing in real estate
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Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question, conduct and prepare your response.

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Minnesota Homesteads are protected from judgment creditors not the IRS..

Minnesota statute allows homeowners to claim up to $390,000 in property value, or $975,000 if agricultural, as a "homestead." State law limits this exemption to 160 acres, which in practice may apply to farms, but has removed what was once a half-acre limit on property within city limits.

Minnesota Homestead Laws - FindLaw

As long as the house is below this amount it it safe from creditors and a forced sale.

I appreciate the chance to help you tonight.Thanks again.

If you can positive rate 5 stars it is much appreciated.

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Customer reply replied 1 month ago
does this exemption protect a person who buys from the judgment debtor homeowner?
how is the exemption published -- is a recording necessary?

Yes and no.If you buy it with a title policy the title company validates there are no liens at time of closing and they bear the expense if that is not the case.But if you buy it without a title policy say for cash then you are buying it liens and all.Thats why a title policy is a great investment here.

Ray
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