Legal Question in Real Estate Law in Massachusetts

Re: Homestead

A Homestead protects the owner/occupants to the extent they have equity in their home up to $500,000 provide the debt did not occur prior to the home was purchased. It is not a protection from any lien that you consent to such as a Mortgage or certain governmental liens.

Re: Homestead

I agree with Attorney Roth's answer.

If a person needs to file Bankruptcy, a homestead can offer ever greater protection.

In most cases a person can void judical liens that were incurred prior to recording the Homestead, in the event you record the Declaration of Homestead prior to filing the Bankruptcy.

Special rules apply, and the protection does not apply to certain debts, such as certain taxes, so you should seek the advice of an attorney if you wish to look into this matter further.

We offer a free consultation; feel free to contact us if your would like any additional information.

Mike