homestead


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Related to homestead: Homestead Act

homestead

The dwelling house and adjoining land forming the permanent residence of the head of household.Under modern law,a person's homestead is given a very specific definition within each state's statutes and is then granted protections from creditors and against excessive real estate taxes. The term homestead may also apply to the rights granted to a widow or widower to use real property for their remaining lives if they elect to take advantage of homestead laws rather than provisions made in a will.The protections may be unlimited, only up to a certain dollar value of equity, or limited in area. Each state's laws are different, and homestead may be defined differently in the various statutes within a state.

References in periodicals archive ?
1948) (contrasting a homestead right with a homestead estate, "A
while "[a] homestead estate is one which is entirely exempt");
The right of homestead is not, under the laws of this state, an
There can be no homestead right in a building alone, apart from
leasehold interest, may be sufficient to support a claim of homestead,
further peril to his homestead right than the necessity demanded").
No such liberality of construction of the homestead law is
1930) (describing the homestead law as "a right jealously guarded
unlimited equity homestead protections for older homeowners was
purpose and policy of exemption and homestead statutes considerations
29A-2-204 (2004) (referencing the homestead allowance in connection with
validating conveyances of homestead property where "both husband