704.720.
(a) A homestead is exempt from sale under this division to the extent provided in Section 704.800.
(b) If a homestead is sold under this division or is damaged or destroyed or is acquired for public use, the proceeds of sale or of insurance or other indemnification for damage or destruction of the homestead or the proceeds received as compensation for a homestead acquired for public use are exempt in the amount of the homestead exemption provided in Section 704.730. The
proceeds are exempt for a period of six months after the time the proceeds are actually received by the judgment debtor, except that, if a homestead exemption is applied to other property of the judgment debtor or the judgment debtor’s spouse during that period, the proceeds thereafter are not exempt.
(c) If the judgment debtor and spouse of the judgment debtor reside in separate homesteads, only the homestead of one of the spouses is exempt and only the proceeds of the exempt homestead are exempt.
(d) If a judgment debtor is not currently residing in the homestead, but his or her separated or former spouse continues to reside in or exercise control over possession of the homestead, that judgment debtor continues to be entitled to an exemption under this article until entry of judgment or other legally enforceable agreement dividing the community property between the judgment
debtor and the separated or former spouse, or until a later time period as specified by court order. Nothing in this subdivision shall entitle the judgment debtor to more than one exempt homestead. Notwithstanding subdivision (d) of Section 704.710, for purposes of this article, “spouse” may include a separated or former spouse consistent with this subdivision.
Further, the automatic homestead in CCP § 704.720(b) “does not apply to the proceeds of a trustee's sale under a power of sale in a deed of trust—because a trustee's sale is not based on or in execution of a money judgment within the meaning of section 704.720.” Title Trust Deed Service Co. v. Pearson, 132 Cal.App.4th 168, 175 (2005). Therefore, Tibbins’ claimed homestead exemption is of no force or effect vis-à-vis RSC’s claim. RSC is entitled to all of the Tibbins proceeds.
MATTER OF 2700 WILLIAMS WAY SANTA BARBARA CA 93105
1402593
Sep 26, 2012
Santa Barbara County, CA
Further, the automatic homestead in CCP § 704.720(b) “does not apply to the proceeds of a trustee's sale under a power of sale in a deed of trust—because a trustee's sale is not based on or in execution of a money judgment within the meaning of section 704.720.” Title Trust Deed Service Co. v. Pearson, 132 Cal.App.4th 168, 175 (2005). Therefore, Tibbin’s claimed homestead exemption is of no force or effect vis-à-vis RSC’s claim. RSC is entitled to all of the Tibbin proceeds.
MATTER OF 2700 WILLIAMS WAY SANTA BARBARA CA 93105
1402593
Oct 17, 2012
Santa Barbara County, CA
“The levying officer shall distribute the proceeds of sale of a homestead in the following order: (1) To the discharge of all liens and encumbrances, if any, on the property. (2) To the judgment debtor in the amount of any applicable exemption of proceeds pursuant to Section 704.720. (3) To the levying officer for the reimbursement of the levying officer's costs for which an advance has not been made. (4) To the judgment creditor to satisfy the following: (A) First, costs and interest accruing after issuance
FILAMENT LIGHTING LLC VS ARCHIPELAGO LIGHTING INC
KS021281
Jun 01, 2018
Los Angeles County, CA
“The levying officer shall distribute the proceeds of sale of a homestead in the following order: (1) To the discharge of all liens and encumbrances, if any, on the property. (2) To the judgment debtor in the amount of any applicable exemption of proceeds pursuant to Section 704.720. (3) To the levying officer for the reimbursement of the levying officer's costs for which an advance has not been made. (4) To the judgment creditor to satisfy the following: (A) First, costs and interest accruing after issuance
PETITION OF JOHN WANG RE: ESTATE OF YEN WANG
KS021414
Sep 27, 2018
Los Angeles County, CA
“The levying officer shall distribute the proceeds of sale of a homestead in the following order: (1) To the discharge of all liens and encumbrances, if any, on the property. (2) To the judgment debtor in the amount of any applicable exemption of proceeds pursuant to Section 704.720. (3) To the levying officer for the reimbursement of the levying officer's costs for which an advance has not been made. (4) To the judgment creditor to satisfy the following: (A) First, costs and interest accruing after issuance
PETITION OF JOHN WANG RE: ESTATE OF YEN WANG
KS021414
Dec 14, 2018
Los Angeles County, CA
Section 704.710.
Section 704.730.
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