Bill increasing homestead protection to governor

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The Senate on Wednesday gave final legislative approval to a bill increasing the amount of property that’s protected by homesteading the home. Nevada homeowners can file documents with their county assessor that protects their primary residence from being taken in a civil action. Doing so is called homesteading the property. Currently, state law protects up to $550,000 worth of equity in a residence from forced sale to satisfy a civil judgment. AB481 increases the amount to $605,000. Lawmakers periodically approve an increase in the amount of equity protected by homesteading a residence to acknowledge the rising cost of homes. The bill is on its way to the governor’s desk.


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