Legal Question in Bankruptcy in California

Eligibility for hmestead exemption

When purchased, our home had a Cal-vet loan. Under the laws this loan had Cal-vet as the legal owner, unlike any other loan/title arrangement. When a fire destroyed our home a few years ago, the title was turned over to us as part of the settlement. As the home has not yet been completed, we cannot get an occupancy permit. Without this permit, we cannot get a homeowner exemption. After fifteen years of ''ownership'' is there not some way to claim the exemption afforded all others in CA should we have to declare bankruptcy?


Asked on 1/21/01, 1:49 am

2 Answers from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: Eligibility for hmestead exemption

That is a great question and I really cannot answer it without doing some significant research. I would really have to go research the case law surrounding domocile and residency in connection with homestead exemptions in California. Since this is a state law matter, rather than federal bankruptcy, I don't have the information at my fingertips. Should you desire to retain me for the purpose of possibly filing a bankruptcy, I will be happy to research that issue for you at that time. Sorry I couldn't be of more help at the moment.

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Answered on 2/13/01, 8:01 pm
Keith Knochel Law Offices of Keith Knochel

Re: Eligibility for hmestead exemption

The homestead exemption allows you to exempt the residence only if you reside in it, however, this exemption can be utilized to exempt the proceeds from sale, damage, or taking thereof. You can consult with our office for additional research on the possibility of exempting a residence that you may not currently reside in but intend to in the immediate future. Our office number is (800)677-1010.

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Answered on 2/15/01, 1:59 pm


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