Homestead
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Homestead is real estate occupied by a person as his or her home or dwelling place. Homesteads often are exempt from levy or liens, at least to a certain extent. This is referred to as the homestead exemption. State law usually defines the extent of the homestead exemption. Please see specific state for details and/or differences.
Black's Law Dictionary, Fifth Edition.Homestead
This is not a substitute for legal advice. An attorney must be consulted.
ALABAMA For Alabama, the homestead exemption is limited to 160 acres, and the maximum value that can be claimed is $5,000. The exemption does not apply against debts for improvements made to the real estate, mortgages, and judgments arising from the commission of a tort. If a husband and wife own a homestead, the law usually requires that both of them sign a conveyance or mortgage regarding the real estate for it to be applicable or enforceable against both spouses. For Alabama, a designation or plat of a homestead must be filed with the office of the probate judge of the county where the real estate is located. The statement must be a sworn and acknowledged statement or declaration describing the homestead. Alabama Code §6-10-2-122; 43-8-110. ALASKA For Alaska, the homestead exemption is limited to $54,000. If a husband and wife own a homestead, the law usually requires that both of them sign a conveyance or mortgage regarding the real estate for it to be applicable or enforceable against both spouses. For Alaska, a designation or plat of a homestead does not need to be filed. Alaska Code §9.38.010. ARIZONA For Arizona, the...
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