homestead

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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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
1959) (holding that a property owner who rented his home during the winter months; over the course of several years to live with his widowed mother; and maintained his personal property in the homesteaded property did not abandon homestead).
Though Micheaux makes no mention of the nearby African-American settlements in either The Conquest or The Homesteader, The Wind From Nowhere concludes with the establishment of an all-black agricultural colony on the plains, where his hero has homesteaded. In many ways, The Wind From Nowhere best exemplifies Micheaux's formulation of the Black Turnerian through Martin Eden, Micheaux's last--and most interesting--construction of himself.