A homestead protects you and your assets from creditors. You can access the homestead form and further info at the Clark County Assessor Web Page. Many times, homestead forms will be sent in the mail, offering to file a homestead for you for a fee. You can save money and pay a much smaller fee by filling out the form and dropping it off or mailing the notarized original copy to the County Recorder’s Office at:
WHAT THE LAW PROVIDES:
When you record a Declaration of Homestead, Nevada law protects the equity in your home up to $550,000 from general creditor claims (unpaid medical bills, bankruptcy, charge card debts, business/personal loans, accidents) but would not preclude a seizure or forced sale of your residence from general creditors if your equity exceeds the $550,000. A creditor may file suit and can record a judgment lien against any real property you own. Recording a Declaration of Homestead protects your principal residence up to the statutory maximum. For example, if the value of your home is $645,000 and you have a first mortgage of $485,000 plus a second mortgage of $10,000, the equity is $150,000.
WHAT IS NOT PROTECTED:
The Homestead law does not protect you against debts secured by a mortgage or deed of trust, payment of taxes, IRS lien, mechanic’s lien, child support or alimony payments.