This Idaho Declaration of Homestead is designed for a married couple and protects a certain amount of value in your principal residence from being taken by a creditor. If a creditor sues you in court and you lose, the creditor will obtain a judgment for the amount owed. If you fail to pay this judgment, the creditor can then collect by garnishing your wages or in certain instances, having your home sold in order to satisfy the judgment. A Declaration of Homestead protects a certain amount of equity in your home from being taken in order to satisfy a judgment.

In Idaho, a homestead exemption is limited to $100,000 in value and is typically automatic from the time the home is occupied as a principal residence. Homestead exemptions do not apply if your homestead consists of unimproved or improved land that is not yet occupied. In this instance you must execute and file a declaration stating this land is intended for use as a principal residence. There are also other situations where homestead exemptions do not apply.

This Idaho Declaration of Homestead for a Married Couple contains the following provisions:

• Parties: Identifies the parties to the homestead declaration;
• Property Location: Sets forth the address and the legal description of the property;
• Declaration: States that the property is the family's principal residence;
• Value of the Premises: Sets forth the estimated cash value of the premises;
• Signatures and Notary: The declaration must be signed by both spouses in front of a notary public.

Protect your Rights and your Property by using our professionally prepared up-to-date forms.

This attorney-prepared packet contains:

1. Instructions & Checklist
2. General Information
3. Step-by-Step Instructions
4. Idaho Declaration of Homestead for Married Couple

State Law Compliance: This form complies with the laws of Idaho