California Homestead Protections Increase as of January 1, 2021
The amount of equity you can protect in your home has likely at least tripled as of January 1, 2021. This is good news and rather timely for those considering a bankruptcy filing due to financial hardships caused by the pandemic. This is great news for many Californians that have seen fairly drastic home equity increases due to rising home values. Here is the language of the new homestead exemption, which is set forth in California Code of Civil Procedure Section 704.730: (