SB 3722

Abstract

Amends the Code of Civil Procedure. Provides that every individual is entitled to an estate of homestead to the extent in value of the greater of (1) the countywide median sale price for a single-family home in the calendar year prior to the calendar year in which the judgment debtor claims the exemption, not to exceed $600,000, or (2) $300,000 (rather than $15,000) of his or her interest in a farm or lot of land and buildings thereon, a condominium, or personal property, owned or rightly possessed by lease or otherwise and occupied by him or her as a residence, or in a cooperative that owns property that the individual uses as a residence. Makes conforming changes.