Periodically I receive questions about asset protection for the client’s primary residence. In Nevada, that’s an easy problem to solve. Nevada offers one of the most generous homestead exemption laws in the country. This is a huge benefit for Nevada residents thanks to Nevada’s strong public policy in preventing its residents from losing their homes over a judgment. Here’s what you need to do:
- Visit the Clark County Assessor’s webpage for their detailed explanation on what the Homestead Law offers. You’ll also find a link to the downloadable and
fillable pdf Declaration of Homestead form. This form is recognized in every county in Nevada, not just Clark.
- You’ll need to enter the Assessor’s Parcel Number (APN) for your property. If you live in Clark County, look it up through this link. If not, contact your County Assessor for the number.
- Enter in your name and contact info in the “recording requested by” section.
- Check the box next to your marital/declaration status.
- Check the box next to your home type.
- Using the official record you looked up earlier to find your APN, enter in the name on title.
- On the next line enter the name of the person(s) claiming the homestead protection.
- Now enter your city and county.
- Again, using that APN record, enter in the legal description of the property. You might need to pull up the deed to do this. If the description won’t fit, type in “See Exhibit A” and then, on a separate piece of paper titled “Exhibit A,” type in the exact legal description.
- The person on title will need to sign before a notary. So at this point, print it out, date it, and sign in front of a notary.
Now, go back to the Clark County Assessor’s webpage and follow the procedures for recording the document. Fees are typically $18. You may either walk in the homestead declaration or mail it.
In less than 10 minutes you can prepare a document that will offer some of the best asset protection benefits you’ll ever need!