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Arizona Homestead - Asset Protection For Your Home

Posted by Ike Devji | Jun 17, 2019 | 0 Comments

Arizona Homestead Exemption - Asset Protection

Arizona and Phoenix, Scottsdale and Paradise Valley in particular, have many communities of homes with prices in the high six and seven figures.

Many homeowners are shocked when they learn how little of their home equity the law actually protects. 


What is the Arizona Homestead exemption? 

Under A.R.S. § 33-1104 homestead protection against “non-consensual liens” is limited to $150,000 total, for both spouses. While some other categories apply to each individual and thus double in the case of a married couple on some forms of personal property, homestead is not one of them.  

How Many Home Does Arizona Homestead Protection Cover? 

Homestead applies to one primary residence only.

What if I own more than one home? 

Secondary residences, like a vacation home or a rental home are not covered and need to be protected with appropriate legal tools. 

Are There Exceptions to Homestead Protection? 

Homestead is not a defense against specific and consensual liens against the home including mortgages, HELOCs, etc.

Can Homestead Protection Be Lost or Abandoned? 

Yes,  homestead may be abandoned by any of the following:

-  A declaration of abandonment or waiver.

- A transfer of the homestead property by deed of conveyance or contract for conveyance. Transfers to your estate planing trust, such a Revocable Living Trust do not constitute abandonment. 

- A permanent removal of the homeowner from the residence or the state.

Can I keep my homestead protection if I am away temporarily? 

Yes, you can be out of the home for up to two years without an abandonment or a waiver of the exemption.

About the Author

Ike Devji

ASSET PROTECTION LAWYER IKE DEVJI Lawyer: Two decades of Asset Protection only legal practice, helps protect national client base of over 6,000 clients and over $6 billion in protected assets- Sample clients include physicians, business owners, real estate investors, C-level execs.


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