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 ?
The Florida Supreme Court, noting the policy of liberal construction of the homestead exemption and the rule of strict construction as applied to these exceptions, analyzed the intersection of the FUFTA and the homestead exemption in the context of civil and criminal forfeitures, and equitable lien cases.
1993), the Florida Supreme Court granted an equitable lien against homestead property in favor of a lender, where the debtor husband fraudulently obtained a loan by forging his wife's signature on the mortgage and used the loan to satisfy three preexisting mortgages on the property.
Whether you relocate across state lines to work the land of your dreams, or what you need is available right in your area, pay attention to a couple "dos and don'ts of buying a homestead." Find facts, ask realtors, and talk to neighbors.
Our homestead used to be a commercial organic potato farm, but the water rights had been sold long ago and the plot reverted to alkaline desert.
He addressed journalists at Nyajuok on Monday while launching a solar water project to serve 5,000 homesteads.
706.02(1)(f), regardless of her current interest in the homestead property encumbered by that mortgage, because she has a present interest in showing that the mortgage was void ab initio; (2) the Mader mortgage is void in its entirety because it was a single conveyance that failed to satisfy 706.02(1)(f); and (3) the Mader mortgage may not be equitably reformed.
During my homestead search, I met and married my wife.
Once the initial structure came together for our house, we got to work on turning this property into a true homestead. Mother's articles were some of the most helpful tools we had when we began creating a new life in the country.
On top of the $25,000 school homestead exemption that all homeowners qualify for, disabled Texans and those who are 65 years old and older are eligible to receive an additional $10,000 school homestead exemption, according to the Texas Comptroller's website.
All local taxing units, including public hospital districts and special utility districts, can also adopt local homestead tax exemptions that reduce by 20 percent the amount of property value on which Texans are taxed.
The Office of the Solicitor General representing the DENR filed the complaints involving seven of the homestead patents in courts in the capital town of Kalibo in Aklan, according to documents from the DENR Western Visayas office.
eighty-five years of homestead law in South Dakota.