[CLBS] CA homestead 704.730(a)(3)(C)

[Holly Roark]

Is anyone familiar with CA homestead 704.730(a)(3)(C)? (Text below.)
Normally we can get away with a debtor claiming $100,000 "family unit"
homestead under 704.730(a)(2) if his parent lives with him, but I am
wondering whether he can claim the $175,000 homestead under 704.730(a)(3)(C)
based on his 62 year old mother living with him as a dependent, or if that
part of the statute only applies to the actual debtor. I have not looked up
the case law yet. If anyone has had experience with this, let me know. 

 

 

(3) One hundred seventy-five thousand dollars ($175,000) if the judgment
debtor or spouse of the judgment debtor who resides in the homestead is at
the time of the attempted sale of the homestead any one of the following:

(A) A person 65 years of age or older.

(B) A person physically or mentally disabled who as a result of that
disability is unable to engage in substantial gainful employment. There is a
rebuttable presumption affecting the burden of proof that a person receiving
disability insurance benefit payments under Title II or supplemental
security income payments under Title XVI of the federal Social Security Act
satisfies the requirements of this paragraph as to his or her inability to
engage in substantial gainful employment.

(C) A person 55 years of age or older with a gross annual income of not more
than twenty-five thousand dollars ($25,000) or, if the judgment debtor is
married, a gross annual income, including the gross annual income of the
judgment debtor's spouse, of not more than thirty-five thousand dollars
($35,000) and the sale is an involuntary sale.

 

 

Best regards,

HOLLY ROARK

Attorney at Law 

Certified Bankruptcy Specialist -

By the State Bar of California Board of Legal Specialization

 

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