New Arizona homestead laws could delay closings

New Arizona homestead laws could delay closings

The primary changes to the homestead exemption include the following

-The automatic creation of a judgment lien against homestead property upon the recording of a  money judgment in the county where the property is located<

-An increase in the homestead exemption to $250,000 from $150,000.

Although the homestead exemption was raised from $150,000-$250,00. There are caveats to the law. If you are concerned these changes could affect you adversely, you should seek legal counsel right away and prior to listing your home for sale.

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