The Revised Arizona Homestead Exemption: Is the Homestead Exemption Still Beneficial?
By: Blake T. Wilkie, Esq.
For years, Arizona homeowners have been able to take solace in the notion that no matter how long their list of creditors became, or how much debt they may have incurred, a certain portion of the equity in their home was protected from legal jeopardy. On the surface, it appears Arizona homeowners are being granted additional safeguards from liens against their properties—and the timing could not be better with homeowners seeing meteoric increases in the value of their homes, and the corresponding increase in equity that accompanies the rise. A deeper dive into the law, however, reveals the opposite may in fact be true.