The AZ Home Lawyers can help you with foreclosure, short sales, landlord/tenant issues, HOA disputes and all real estate legal problems.

The Frutkin Law Firm, PLC

Frutkin Law Firm, PLC
Homeowner Consultation

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Choosing between Short Sale and Bankruptcy?

Let the attorneys at Frutkin Law help you determine which course has the best outcome for you. Contact ustoday.

1099-C after foreclosure?

1099-C after foreclosure?

Does Arizona Law Have a Homestead Exemption?

Tuesday, October 25, 2011

During a bankruptcy proceeding, a homestead exemption allows debtors to keep their home within reasonable limits defined by Arizona State law makers.  Currently, the bankruptcy code for the State of Arizona defines the Homestead Exemption as, “Interest in real property upon which debtor’s house sits, condominium or cooperative, mobile home, or mobile home in which debtor resides plus the land upon which the mobile home is located in the amount of $150,000.  May not be doubled by husband and wife.”  There are other considerations, such as how long you have owned and lived in the home and whether or not you have been convicted of specific felonies.

Taking advantage of the homestead exemption is possible in both Chapter 7 bankruptcy and Chapter 13 bankruptcy.  There are other procedures, such as lien strips, that are only available to those who file for Chapter 13 bankruptcy.  Some of these procedures are complex with many variables.  To get the best possible outcome in your bankruptcy filing or any legal matter involving Arizona property, a home lawyer with experience in Arizona courtrooms should be consulted before filing.

Having knowledgeable home lawyers on your side is a smart move when you file for bankruptcy in Arizona.  The Frutkin Law Firm, PLC, in Phoenix, Arizona, has decades of experience and can help you determine the right path for your individual situation.


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Call 602-606-9300 to reach our Phoenix Homeowner hotline or use our convenient online contact form..

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Legal Services Interested In:

 Short Sale Foreclosure Bankruptcy Landlord Issues Tenant Issues HOA Dispute
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