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Legal Alert - Nevada Supreme Court Limits Homestead Exemption in In re Nilsson

01/10/2014

by Bob L. Olson

In In re Nilsson, 129 Nev. Adv. 101 (December 26, 2013), the United States Bankruptcy Court for the District of Nevada certified the following question to the Nevada Supreme Court:

Can a debtor properly claim a homestead exemption for his interest in real property under NRS 21.090(1)(l) and NRS Chapter 115 when the debtor himself does not reside on the property but his minor children do? Put another way, does a debtor have to actually reside on the property that is the subject of a claimed homestead exemption under NRS 21.090(1)(l) and NRS Chapter 115, or is it sufficient that a debtor’s minor children reside on the property in order to qualify for the exemption?

[Read the full alert.]