California Bankruptcy Laws - Designation Of Homestead By Owner

Code of Civil Procedure §704.930 provides, in part, "(a) The homestead declaration recorded pursuant to this article shall contain all of the following: (1) The name of the declared homestead owner. A husband and wife both may be named as declared homestead owners in the same homestead declaration if each owns an interest in the dwelling selected as the declared homestead. (2) A description of the declared homestead. (3) A statement that the declared homestead is the principal dwelling of the declared homestead owner or such person's spouse, and that the declared homestead owner or such person's spouse resides in the declared homestead on the date the homestead declaration is recorded."

Operation of California bankruptcy laws

In practice, occupation of a home requires a physical presence of the debtor on a regular basis. Problems arise because of multiple tracts, absence from the state, and divorce proceedings which fracture the application of domicile rules. Clarifying both domicile and residency through a written designation prevents surprises. If the validity of a homestead exemption is in question, written agreements and designation provide many debtor with a solution. Note: Absence from the country because of military service can not form the sole basis of abandonment.

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