This Alpha Arizona Homestead Kit is a complete do-it- yourself legal kit that provides all of the forms required to accomplish either a Homestead Exemption under Arizona Revised Statutes, Section 33-1101; a Personal Property Homestead under Arizona Revised Statutes 33-1126(8); or the exemption of a Financial Account under Arizona Revised Statutes 33-1126(7).
Each of the three property exemption laws will be fully discussed in this Instruction Guide as to the extent of their purpose and the procedures necessary to accomplish the exemptions.
Since the Arizona Exemption Statutes offer a broad range of real and personal property exemptions, a comprehensive list of all such property exempted under Arizona laws is also included in this Instruction Guide.
Under the 1996 amendment to the Arizona Homestead Act, one of the key provisions added to simplify the homestead exemption is the automatic $100,000 exemption accorded every homeowner whether or not a Declaration of Homestead is initially filed with the County Recorder; however, if the homeowner becomes subject to an action by a judgment creditor, then the homeowner must either file a Declaration of Homestead which properly identifies the property to be exempted or give such judgment creditor proper notice according to law.
This amendment to the Homestead Act simply clarifies what has long been the accepted practice by many who understood that the Homestead Declaration was only required if a judgment debtor's, residential property was subject to a seizure action by a judgment creditor. And that the Declaration of Homestead did not have to be filed until after the creditor obtained a judgment, but before execution of the judgment against the homeowner's real property.
In other words, while the Declaration of Homestead may be required only if the homeowner becomes subject to a civil seizure action, it can be filed any time prior to such a civil action as future protection in the event the homeowner is unable to file or notice the exemption when it is needed.
Keeping in mind that this Instruction Guide is not intended to give or dispense legal advice which can only be given by an attorney licensed to practice law in this State.
It is, however, the intent of this publication to provide workable legal materials for the individual who desires to pursue his or her legal remedies without the aid of a lawyer when equipped with a working knowledge of the applicable laws and procedures.
It is, therefore, in this context that this publication provides not only a detailed discussion of the Arizona Property Exemption Laws, but also includes the forms required to accomplish the exemptions, plus specimen examples of each form.