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Q.What is Abandonment Of Homestead?
A.When a homestead has been abandoned, that means the property is no longer qualified for the homestead exemption. A person can abandon the homestead either by operation of law (voluntarily or involuntarily by accident) or by declaration.
If a homestead declaration is executed or recorded on a different property, the first declared homestead is abandoned by operation of law. Similarly, if the judgment debtor leaves the residence and starts living elsewhere an accidental abandonment may occur by operation of law. The judgment debtor can only have one personal and primary residence and in turn only one property that qualifies for the homestead exemption.
A property owner can also purposely abandon a homestead exemption by executing and recording an legal document known as Abandonment of Declared Homestead.
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