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For legal compliance, the California homestead exemption law limits
value to $50,000 for individuals less that 65 years old, or $75,000 if
65 or older. According to the California Homestead Exemption Act,
protection attaches to homes used as a primary residence, and proceeds
from the sale of a home for 6 months unless repurchasing another home,
in which case the new home is protected up to the statutory value limit.
To avoid problems with creditors, filing a California homestead exemption form
may prevent unnecessary complications if owning multiple tracts of real
estate.
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