California Exemptions CCP 703 CCP 704. Exemptions  A fancy word for a list of things that you are able to keep and creditors cannot reach.  Code of.

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Presentation transcript:

California Exemptions CCP 703 CCP 704

Exemptions  A fancy word for a list of things that you are able to keep and creditors cannot reach.  Code of Civil Procedure - Section 703  Code of Civil Procedure - Section 704

Code of Civil Procedure Sections 703  1.-Homestead  2.-Motor Vehicle  3.-Personal Property  4.-Tools of Trade .5.-Insurance  6.-Pension  7.-Public Benefit  8.-Alimony and Child Support

Code of Civil Procedure Sections 704  1.-Homestead  2.-Motor Vehicle Exemption  3.-Peronal Property  4.-Tools of Trade  5.-Insurance  6.-Pensions  7.-Public Benefits  8.-Alimony and Child Support

CALIFORNIA LAW   California Law  California Code of Civil Procedure Table of Contents  Chapter 4 Exemptions  Section 703 & Section 704

 If you had an automobile worth $2,700 this would be exempt under CCP 703.  Motor Vehicle  Up to $4,800 in value

 The best applicable exemption under California Exemptions for a home with a $50,000 equity would be CCP 704  Homestead  Up to $75,000 in value per per individual

ALL CCP 703 ALL CCP 704

Make up your mind, 703 or 704? Only one !!!!!!!!!!!!!!!!!!

 CCP 703 would be the best option for someone not owning a home (property).  “Wild Card”  $18,325 exempt in cash

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