Letter from attorney to opposing counsel requesting documentation concerning homestead exemption for change of venue motion.
Massachusetts Sample Letter for Change of Venue and Request for Homestead Exemption
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How to fill out Sample Letter For Change Of Venue And Request For Homestead Exemption?
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File with your local Registry of Deeds. Can be filed by mail with notarized signatures and check. Filing fee is $35 for the state but check with your Registry of Deeds for any additional county fees. Declaration of homestead for homes owned by trustee(s), Mass.
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 $500,000, against unsecured creditor claims.
Declaration of Homestead is available to property held in Trust, although the Trust beneficiary must be identified in the declaration as the beneficiary of the Homestead. Only the Trustee would execute the Homestead Declaration form.
To transfer the SOH benefit, you must establish a homestead exemption for the new home within three years of January 1 of the year you abandoned the old homestead (not three years after the sale). You must file the Transfer of Homestead Assessment Difference (Form DR-501T) with the homestead exemption application.
If you own and occupy (or intend to occupy) your home as a principal residence, you can file a homestead protection. A sole owner, joint tenant, tenant by the entirety, tenant in common, life estate holder, or holder of a beneficial interest in a trust may all be regarded as owners.
Homestead forms, or homestead deeds, are filed at the Registry of Deeds in the county in which the residence is located. The filing fee ranges from $35-$100. For married couples, both spouses will now have to sign the form.
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.
As stated above, if you are a homeowner whose primary residence is a property in Massachusetts, you automatically receive up to $125,000 in Homestead Exemption protection. Anyone who owns and occupies a primary residence in Massachusetts may apply for additional Homestead Exemption protection.
