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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Trusts vs. Homestead Posted by Ward-CA- on January 16, 2002 at 2:31 PM In Reply to: Trusts vs. Homestead posted by Janette Jones on January 16, 2002 at 1:06 PM : Hi Ward! The other day I was talking to a co-worker about the benefits of having their house in a Trust, then she asked a question that I could not answer completely. I know that I can turn to you for the right info, so please tell me, beside the fact that the property would not be in the persons name, what is the difference between a Trust and a Homestead? =•=•=•=•=•=•=•=•=•=•= Janette, a trust will prevent a recorded involuntary lien, such as an abstract of judgment, from sticking to the title of your property if the property is in the name of your trust rather than your name. A homestead won’t keep such a lien from being recorded against the title of your property. All a homestead does is temporarily protect your property from a judicial sale. Since lenders very rarely use the route of a judical sale the bar of a homestead isn’t very much proteciton at all. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Ward! The other day I was talking to a co-worker about the benefits of having their house in a Trust, then she asked a question that I could not answer completely. I know that I can turn to you for the right info, so please tell me, beside the fact that the property would not be in the persons name, what is the difference between a Trust and a Homestead? : =•=•=•=•=•=•=•=•=•=•= : Janette, a trust will prevent a recorded involuntary lien, such as an abstract of judgment, from sticking to the title of your property if the property is in the name of your trust rather than your name. A homestead won’t keep such a lien from being recorded against the title of your property. All a homestead does is temporarily protect your property from a judicial sale. Since lenders very rarely use the route of a judical sale the bar of a homestead isn’t very much proteciton at all. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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