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A "Declared Homestead" is a document that is filed to protect a homeowner's equity from most creditors. This protects the property’s equity from certain debts, judgments, bankruptcy, medical debts, liens arising from accidents, and other types of involuntary liens. However, the homestead will not protect the property's equity from construction liens, mortgages, government liens, child support, alimony, and voluntary liens that a homeonwer has consented to. A homestead is filed once and will remain effective until the house is sold or an abandonment of homestead is filed.

Amount of Homestead Protection - Nevada
$550,000.00 For a single person
$550,000.00 For any married person or married couple

In Nevada, a homeowner must file a declared homestead in order to protect their property up to the $550,000.00 allowable amount. Technically, a declared homestead may be filed anytime before a judgment has been entered against you by the court. The State Bar of Nevada recommends that property owners file a declared homestead "upon purchasing a home and taking title to it, or as soon as possible thereafter." [1]

My Legal Depot makes it easy to create and file a homestead declaration. Our homestead forms package is only $15.95 and includes the homestead form plus detailed instructions on how to properly complete and file the document. To receive the homestead forms package, please call 1-800-820-2144.

Note: Only one homestead may be filed and the property must be the owners primary residence.

[1]Rene Feinstein, Esq. Filing a Homestead Declaration. Las Vegas: State Bar of Nevada, CLE Publications Committee, 03/2008


SCENARIO: Jack is a single man who owns a house with a fair market value of $850,000. He owes $265,000 on his mortgage also known as a Deed of Trust. One day, Jack caused an accident and gets sued for $70,000. Jack loses the lawsuit and owes $70,000 to the creditor.


Fair Market Value (House Value) $850,000  
- Mortgage (Deed of Trust) $265,000  
Equity = $585,000  
- Jack's Homestead Exemption $550,000 (Amount Protected - Belongs to Jack only)
Leftover equity = $35,000 (Amount Unprotected - Belongs to the creditor)

RESULT: Jack has $35,000 that is unprotected by the state homestead laws. Although the creditor is owed $70,000, the maximum he/she can claim in this situation is $35,000. A court generally cannot force a sale unless the proceeds can pay the entire amount owed. Since the proceeds cannot cover the entire amount due, the judgment becomes unenforceable against the property.

Jack has successfully used his homestead to prevent a forced sale and will protect $550,000 of his equity even if the courts granted a forced sale.

For Nevada Homestead Laws, please see:
Nevada Revised Statutes Title 10 Chapter 115

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