Montana Declaration of Homestead
Do you own your home? Protect it against attachment, levy or sale by your creditors or a bankruptcy trustee by filing this Declaration of Homestead for the State of Montana.
- State bankruptcy laws allow you to exempt up to $250,000 of the net equity in your primary residence by homesteading it.
- Equity is calculated by subtracting the balance owing on your mortgage from the appraised value. If your home equity is $250,000 or less, the bankruptcy trustee cannot sell your home.
- You will still have to repay the mortgage and the bank can still foreclose if you don't make the payments.
- The form must be completed, signed, notarized and filed with the County Recorder in the county in which the property is located.
Your home is too important to take chances with - protect it today with a Declaration of Homestead.