How to protect my prospective home from attachment/sale.

[william adams]

I have a benificiary deed, on file with the county recorder.(AZ.) Mom wanted her home to go to me and become my home.(She Died) I have not yet presented the Death certificate to the county recorder,and signed to have the title to her house transferred to me.(there's supposed to be a requirement that it's done withen 20 days of the death,but it takes about 30 to get death certificates issued. She also had a notarized last will and testament.(Predating the Benificiary deed). As Iam finding it near impossible to avoid chapter 7 bankruptcy,how can I protect my prospective home? On paper it may be worth more than:150,000.00 as all the adjacent propertys are newer, more luxurious, spacious, more valuable, and better constructed, and in better repair .(I was a co-signer on 1 credit card, with a debt of 21,000.00). At wits end, If I go ahead with the Benificiary deed transfer..can I immediately file for a homesteaders deed, and will it protect home from attachment/sale by Bank? wll9ada@aol

[WoodSprite]

I have a benificiary deed, on file with the county recorder.(AZ.) Mom wanted her home to go to me and become my home.(She Died) I have not yet presented the Death certificate to the county recorder,and signed to have the title to her house transferred to me.(there's supposed to be a requirement that it's done withen 20 days of the death,but it takes about 30 to get death certificates issued. She also had a notarized last will and testament.(Predating the Benificiary deed). As Iam finding it near impossible to avoid chapter 7 bankruptcy,how can I protect my prospective home? On paper it may be worth more than:150,000.00 as all the adjacent propertys are newer, more luxurious, spacious, more valuable, and better constructed, and in better repair .(I was a co-signer on 1 credit card, with a debt of 21,000.00). At wits end, If I go ahead with the Benificiary deed transfer..can I immediately file for a homesteaders deed, and will it protect home from attachment/sale by Bank? wll9ada@aol

I'm sure someone with more pertinent experience will be along shortly, but I just wanted to welcome you to the forum. I'm sorry to hear of your loss at what already sounds like a difficult time for you. Looks as if mom was really trying to look out for you.

I believe Arizona's homestead exemption is rather generous - $150,000? - although that value is the value of your interest, not the market value. I find this a little confusing, but I'm sure your lawyer will be able to help you figure it out. Since it's so close to the limit, and the surrounding properties are more expensive, you may need to find the funds to have an appraisal.

In order to qualify as a homestead, though, it needs to be your primary residence, so you need to move in asap, file change of address, and definitely use that as your address on all the BK documents. Do you own your home now? You'll have to be prepared to let that one go.

If this place is important to you, you can do it! I was so determined to save my land that I knocked together a tiny little cabin and moved into it before filing. It's 8'x12', off the grid, with a wood stove and a hand pump for water, but it's paid for, and I couldn't be happier! Good luck to you.

[AngelinaCatHub]

I'm in agreement with 'Sprite'. Do it right away even without the death certificate. BTW normaly the Funeral Director can get you one right away. Also homestead this ASAP.

Hey 'Sprite' I'd love to see a picture of your little cabin. What a deal. Ever hear of Mother Earth News? Like a survival magazine. 'Hub