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    #1

    California Exemptions

    According to the 2nd option for California Exemptions any unused portion of the homestead exemption can be used for any property. Since I don't own a home and the value of my car exceeds the exemption of $2,775, can I use the $17,425 toward the car? I also have a $450 wild card.

    I know it seems self-explanatory, but I want to be sure.
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    #2
    If the Statute says, "Any property", and I think it does, then,...... Yes. You can apply the unused Homestead Exemption to your car if you want.
    Filed Ch 7 - 09/06
    Discharged - 12/2006
    Officially Declared No Asset - 03/2007
    Closed - 04/2007

    I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

    Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

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      #3
      I too am from Calif, and getting ready to file next week. For the second option you can use all of the property for any thing else,, if you have no home equity. It has increased to $20,725 as of April 2007 along with the car allownace of $3200 and wild card $1100.

      You can see the info at following link

      http://wehelpyouservices.com/files/CA_Exemption_Laws_4.07.2.pdf

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