The Massachusetts Homestead Act is a law under which a homeowner is protected by an Estate of Homestead. A homestead estate provides limited protection of the value of the home, up to $1,000,000, against unsecured creditor claims.

Other differences between the declared and homestead exemptions include: In the event of a voluntary sale, the declared homestead protects the sale proceeds up to the applicable statutory amount. In contrast, the automatic homestead offers no protection from a voluntary sale.

Liens. A “lien” is a legal claim that gives a creditor the right to take your property if you do not repay a debt . A lien can be placed on your home before and after you file a declaration of homestead, but no one can collect on the lien(s) that were placed on your home after you filed a declaration of homestead.

Homestead declaration protects you from unsecured creditors and certain other debts or attachments, but it does not shield you from first or second mortgage lenders and/or equity lenders who possess a security interest in your home.

Filing a Declaration of Homestead costs thirty-five dollars ($35.00). Personal checks should be made payable to the Commonwealth of Massachusetts.

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Check List – Fill out the Homestead Declaration Form completely, sign it and have it notarized. Be sure the form is filled out completely and has been properly notarized, and remember to enclose a check for the proper recording fee with the Homestead form.Laws, cases and web sources on homestead law. The original document must be filed at the Registry of Deeds. After you have completed the Declaration of Homestead form, and have your signature NOTARIZED, you must file the document with the Registry of Deeds. The earliest house in the area, the William Smith House at 111 Sudbury Road (ca. Claim your coupon when you sign up for our weekly newsletter with info on upcoming events and promotions.

Homestead Act Information Form Massachusetts In Kings

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