New Homestead Exemption legislation passed in March of 2022, now includes motorhomes, campers and trailers. It also significantly increases the protection of the equity in your motorhome, camper or trailer.
The Governor of Colorado still needs to sign the legislation into law.
The Homestead Exemption has been increased to protect $250,000 in equity for a person under 60 years of age.
If you are 60 years of age or older, the Homestead Exemption now protects up to $350,000 in home equity.
For a disabled person or a person that has a disabled spouse or disabled dependent living in the motorhome, camper or trailer the Homestead Exemption now protects up to $350,000 in equity.
You only receive one Homestead Exemption for your motorhome, camper or trailer even if you are filing bankruptcy with your spouse.
In most circumstances, you must be living in the motorhome, camper or trailer to claim the Homestead Exemption.
You must be a resident of Colorado for at least 2 years to use the Colorado Exemptions.