Nevada Homestead Exemption: Protecting Your Home in the Midst of Debts

If your creditors are running after you because of your piling debts you feel that you are at the end of the road and have no other option.  Reality sets in that if you cannot pay them they may take away your property or anything that belongs to you.  This is a headache and may stress you all the more.

You seek bankruptcy to relieve you of the stress but are quite unsure if your property will remain protected.  With less understanding of what your rights are as a debtor and seeks bankruptcy, the possibility of losing your property worries you more.

The Nevada Homestead Exemption Law

Nevada debtors can keep their homes despite being in debt or going for bankruptcy.  However, this will hold true only if you filed for a homestead declaration for your property.  Filing for homestead declaration and in accordance with Nevada Revised Statute 115, the equity in your home is protected up to $605, 000.

You also have to understand that no matter how gracious Nevada law is, there are exceptions where not all property will be included in the exemption.  The exceptions are:

  • Repayment of benefits;
  • Mechanic’s liens;
  • IRS liens;
  • Property taxes; and
  • Debts securing a mortgage or deed of trust.

In addition, because your investment or rental properties are not your principal residence, the homestead exemption does not apply or protect them.  A vacant lot will also not be protected.  The exemption only protects your land if it has a habitation on it (such as a house, mobile home, or condominium).

In cases where your home or land is used as a form of collateral (mortgages or liens on a property), the homestead exemption statute does not protect you from debts.

How Would I Be Eligible for the Homestead Exemption?

You need to file for homestead exemption with the county clerk’s office to secure your primary residence from debt collectors. It should, however, be clear that only your primary residence is protected by this law and does not cover the following:

  • Rental properties;
  • Vacant land; and/or
  • Investment properties.

Your primary residence is the property where you physically dwell like your condominium, house or mobile home.

How Do I Go About the Homestead Declaration?

Now that you know your home may be protected from your creditors, you need to take the necessary steps as soon as possible to keep your property.  How you will go about it might be troubling you at this point.  Follow these steps for you to be guided:

  • Select and decide on the property that you want to declare;
  • Complete the Homestead Declaration Form;
  • Sgn in the presence of a Notary Public; and
  • Have the notarized Homestead Declaration Form received and acknowledged by the Country Recorder.


If you are married, there are certain rules to follow when declaring homestead such as:

  • Married but will file as a person or married couple, your spouse or the two of you should declare that you are living with your spouse, or the two of you are living together with your family, or has person or persons under your care; and
  • Married but the property is a separate property of one spouse, both you and your spouse must sign the declaration.

One important note is that the property you claim should be described by a full address and a full legal description.

Can I File Homestead Declaration On My Own?

If you follow the steps in filing your homestead declaration and provide all the needed information asked, filling in the Homestead Declaration Form and filing it, you may find it easy.  However, if you think you are in doubt of something or unsure about what you are getting into, a knowledgeable attorney will be able to give sound advice on what to do.

Freedom Law is Here to Help

It may seem easy or not, filing for homestead declaration will surely save you time if you would consult with an attorney to help you with it.  The sooner you file the declaration, the sooner your property gets protected from your creditors.

Freedom Law is ready to help.  Please request a call-back by submitting a short online form. All initial consultations are free and confidential. 

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