If your principle residence is in Montana and you haven’t already filed a Homestead Declaration, you should do so. It’s a one page document that you can fill out in 5 minutes, get notorized, and file with the county clerk & recorder for about $10. It will protect the first $250,000 of equity in your home from creditors. Mortgages and construction leins on the home are not covered by the exemption as well as Medicaid leins placed pursuant to the Montana Estate and Recovery Program.
The Homestead Declaration form can be filled out online and printed for signatures & notarizing here. A Homestead Declaration can be undone by filing a Declaration of Abandonment. (For instance, if you sold one home and bought another.)
This is really important to protect your home. Everyone should do this. If you get stymied contact Tia Robbin who is our NMAR legal counsel and can file it quickly at a reasonable fee. Kathy
Comment by Kathy — March 12, 2009 @ 2:13 pm