June 2021 Bar Bulletin
By Marc Stern and Christina Henry
On April 19, 2021 the Washington Legislature passed S5406 dealing with the Homestead law in the State of Washington. This article will deal with four aspects of the law that practitioners should know. The legislation contains an emergency clause that makes it effective upon signing by Governor Inslee, who signed the legislation into law on May 12, 2021.
1. The amount of the homestead is dramatically increased and is different in each county. The Homestead amount is the greater of $125,000 or the previous year’s median value of a single-family residence. The amount is tied to...