The Long Tradition of Property Exemptions
The most famous asset protection law is the "unlimited homestead exemption " invented in the 1800s by the Republic of Texas as a way of attracting settlers. Other states across the plains, and Florida added unlimited homesteads to their laws and today several states still have them. Several years ago Nevada greatly expanded its exemption laws in hopes of becoming a haven for those seeking asset protection. Its generous homestead protection may be partly responsible for the Las Vegas real estate boom. Unfortunately for debtors in the rest of the country, most states offer far less protection.
The content of this article pertains to all US states and counties.