Property tax classification applying to owner-occupied homes and farms. Homestead property generally receives preferential property tax treatment compared to other types of property.
A right given to a householder or head of family to designate real estate as his homestead and said homestead is exempt, up to a stated amount, form execution by his creditors; a tract of land whose ownership has been established under the provisions of the Homestead Act.
(Not applicable in all states) Land, and the improvements thereon, designated by the owner as his homestead and, therefore, protected by state law from forced sale by certain creditors of the owner.
(1) The house plus any adjoining land, which is occupied by a family. (2) A home which is exempt from the claims of creditors. (3) Land which was acquired from the public lands of the United States by settling and cultivating it.
An estate in land, in Wisconsin valued at $10,000, which a household has in the property that he and his family occupy as their residence. Their estate is exempt from forced sale to satisfy householders debts.
The dwelling (house and contiguous land) of the head of the family. Some states grant statutory exemptions, protecting homestead property (usually to a set maximum amount) against the rights of the creditors. Property tax exemptions are also available in some states.
Settlement resulting from the Homestead Act of 1862 and subsequent land laws. The act provided 160 acres of public domain land to settlers who built a home on the land, resided there for five years, and cultivated the land. In Oregon, the act was especially significant east of the Cascade Mountains. See also Patent (land).
the home and adjacent grounds occupied by a family
land acquired from the United States public lands by filing a record and living on and cultivating it under the homestead law
dwelling that is usually a farmhouse and adjoining land
settle land given by the government and occupy it as a homestead
a declaration signed by the homeowner which is recorded at the Registry of Deeds in the county where the property is located
a house and tract of land which a person considers his home
an "exemption" provided by California law to every person who lives in a "dwelling
a property that is continuously occupied and has all the comforts of home because that's what it is
Homestead Exemption Home Warranty Plan
A home upon which the owner has recorded a Declaration of Homestead, this protects the home against judgements up to an amount specified in the statutes.
Debtor protection that entitles the debtor to a certain amount in real property that is exempt from attachment by creditors. I-L
A house that is located on land occupied by the owner, surrounded by outbuildings, exempt from seizure and forced sale for debt. Under the Dominion Lands Act, the "permanent dwelling" and all farm buildings surrounding it were considered the homestead.
The home and adjoining land occupied by a family.
Real estate that is occupied and used as a principal residence.
The vacant quarter-section selected by a homesteader. The selection would be registered in the local Dominion Lands Office by issuing an entry on the property. Most of the even-numbered sections throughout the North-West Territories (less the quarter-sections set aside as Hudson's Bay Company Lands) were available as free homesteads, providing the homesteader made certain improvements to the land within a specified period.
In some states, the home and property ownership by an owner are protected by law, up to a certain amount, from attachment and sale for the clams of creditors. Depending upon state law, certain judgments are not protected by homestead, and homestead can be waived.
Property designated as the primary residence. Also defined as land claimed by a settler under the National Homestead Act.
(exemption) A statutory protection of real property used as a home from the claims of certain creditors and judgments up to a specified amount.
A tract of land owned and occupied as the family home. Also a legal life estate in land in differing ways by state laws devised to protect the possession and enjoyment of the owner against the claims of certain creditors.
Property which was the Decedent's residence.
The principle place of residence of a debtor whether a house, apartment, condo or any other.
A dwelling, its land and buildings that the owner occupies as a home. Protected by the Homestead Act from some creditors of unsecured debt.
A limited exemption against the claims of unsecured creditors for property used as the debtor´s residence. A means of protecting the debtor´s home from a forced sale to satisfy certain debts.
In Wisconsin, a building which can be used for a home and an amount of land of at least one-quarter acre, if available, and not exceeding 40 acres.
Real property and , specifically, the improvements attached thereto, owned by an entity is protected from forced sale as the result of nonpayment of claim or lien against the real property filed by a contractor. The two designations available for homestead property are: Rural homestead which includes a primary residence and two hundred acres of land; and urban homestead including a primary residence and up to one acre of land. Homestead laws, contrary to popular belief, do not prevent foreclosure in the event of default or seizure for the nonpayment of taxes.
(1) Property designated by the head of a family as his home, which is protected by law from forced sale to pay his debts. (2) Land claimed by a settler under the national homestead act. (3) Under some state laws, the real estate upon which one's home is situated.
Tract of land occupied as a family home. Housing and Urban Development (HUD): The federal government agency that oversees FHA.
A person's dwelling and that part of the land which is about and contiguous to the dwelling. Many states by statute give special privileges to such lands, such as exemptions from remedies of creditors.
A parcel of land used by the owner as a primary residence.
to obtain title to public land under the Homestead Act of 1862. This act allowed the head of a family to obtain title to 160 acres after clearing and improving it, and living on it for five years.
Defines all that is a persons residence including land, house and other buildings.
Status provided to a homeowner's principal residence by some state statutes; protects a home against judgments up to specified amounts.
a homestead usually is a home on land obtained from the United States government. Part of the agreement between the individual and the government was that the individual had to live on the land and make improvements to it, such as adding buildings and clearing fields.
the dwelling place, owned and occupied by a family, including the land, house and accessory buildings
Property which is set aside for the benefit of specific family members, and which cannot be transferred by the decedent to a third party. As long as the homestead does not exceed in area or value the limits fixed by law, in most states it is exempt from forced sale for collection of a debt.
A home which is used as a personal residence.
A statutory exemption of real property used as a home from the claims of certain creditors and judgments up to a specified amount; requires a declaration of homestead be completed and filed with the county recorder's office.
A property tax reduction program open to Minnesota residents. The State of Minnesota encourages home ownership by providing owner-occupied properties a reduction in their property taxes. For example, the homestead classification can reduce the taxes on a single family residence up to $304 per year.
(1) The house in which a family lives, plus any adjoining land and other buildings on that land. (2) Real estate, which is not subject to the claims of creditors as long as it is occupied as a home by the head of the household. After the head of the family dies, homestead laws often allow the surviving spouse or minor children to live on the property for as long as they choose. (3) Land acquired out of the public lands of the United States . The term "homesteaders" refers to people who got their land by settling it and making it productive, rather than purchasing it outright.
A status provided to a homeowner's principal residence that protects it against judgments up to a specified amount.
A residential parcel upon which the Owner has recorded a “Declaration of Homestead” pursuant to California Law, which, to an extent, protects it against forces sale.
Any real estate where the owner resides and which is exempt from creditor's claims to an amount specified by state law.
Property that is owned and occupied as the family home. In many states a portion of the area or value of this land is protected or exempt from judgments or debt.
The land and buildings thereon occupied by the owner as a home for himself or herself and family, if any, and in most states protected to some extent by statute against the claims of creditors.
In land records, generally the 160 acres an individual could acquire from the United State under the Homestead Act of 1862.
A statutory protection from execution or the establishment of title by occupation of real property in accordance with the laws of various states or the Federal Government.
Special legal protection that Texas gives to a person's principal residence.
The primary residence including the land and building surrounding the main house.
the place where a family makes its home
Status provided to a homeowner's principal residence in some states that protects the home against judgements up to specified amounts.
Property owned by a person and used as his or her residence, giving rise to special legal restrictions and exemption from claims of creditors within statutory limits.
A home upon which the owner or owners have recorded a Declaration of Homestead, as provided by California statutes; protects home against judgments up to specified amounts.
Head of household's designated residence. The fixed residence of the head of a household including the surrounding land and outbuildings.
The dwelling in which an owner or head of a family resides protected to a limited extent from forced sale by a recorded declaration of homestead.
The house in which the family lives and all the land and building built on the land that surrounds the house.
The home and property of the head of the household. Some states allow statutory exemptions that protect homestead property against the rights of creditors.
Real estate that is owned and utilized as the primary family residence, protected in some states as exempt from the claims of creditors
Legal status provided by certain states on a homeowner's principal and in some states provides protection against creditor claims or forced land sale as long as the homeowner continues to maintain his/her residence there.
A property consisting of land and building occupied by the owner.
Under some state laws, a property that carries specific privileges and tax advantages to someone who owns and occupies a house on the land.
A law in which the owner and his family can not be forced into sale because of bad credit or debits that may have incurred.
(1) The house in which a family lives, plus any adjoining land and other buildings on that land. (2) Land, and the improvements thereon, designated by the owner as his homestead and, therefore, protected by state law from forced sale by certain creditors of the owner. Texas offers homestead protection for a single residential property. In addition, Texas mandates a minimum $15,000 school district property tax exemption on the appraised value of a homestead property. Other taxing authorities, such as cities and counties, may offer additional property tax exemptions on homesteads. Homestead protection will not stop foreclosures for delinquent mortgages, taxes or mandatory homeowner's association dues. (3) Land acquired out of the public lands of the United States. The term "homesteaders" refers to people who got their land by settling it and making it productive, rather than purchasing it outright.
In the southern African context, a homestead (Xhosa umzi, Zulu umuzi, Swati umuti) is a cluster of several houses (singular indlu; plural Xhosa and Zulu 'izindlu', Swati 'tindlu') characteristic of the Nguni-speaking peoples of Africa. Each homestead will normally be occupied by a single extended family.