President Abraham Lincoln signed the Homestead Act on May 20, 1862. The Homestead Act of 1862 was a revolutionary concept for distributing public land in American history.Before the act expired, over 270 million acres would be granted. The Homestead Act of 1862 is recognized as one of the most revolutionary concepts for distributing public land in American history. Homestead Act of 1862, in U.S. history, significant legislative action that promoted the settlement and development of the American West. The Homestead Act of 1862 allowed all citizens who were 21 or who were head of their family to claim 160 acres of land. Exemption applications can be downloaded from here. The Homestead Act of 1862 opened up millions of acres. Any adult who had never taken up arms against the federal government of the United States could apply. The Homestead Act was passed to encourage the settlement of new western frontier lands.