In Massachusetts, an estate of homestead is an interest in real property designed to protect the owner or the owner's surviving spouse against the claims of creditors by protecting the property from execution and forced sale. MGL ch. 188 § 1-10.
MGL ch. 188 § 1: Homestead for Owner of Principal Residence
The homestead allows an owner of real estate, whether owned as sole owner, joint tenant, tenants by the entirety, or tenants in common to claim homestead protection to the value of $500,000 in a principal residence.
MGL ch. 188 § 1A: Homestead for Elderly and Disabled Persons
The elderly and disabled person's homestead first became effective in 1987 as MGL ch. 188 § 1A. Chapter 475 of the Acts of 1989 amended MGL ch. 188 § 1A, to clarify many of the ambiguities in the previous law and to increase the protection for elderly and disabled persons to $500,000. The statute, as amended, specifically allows a $500,000 homestead protection on real property to a person or persons aged 62 years or older upon the recording of a Declaration of Homestead in the Registry of Deeds. Disabled persons of any age are also eligible to record under the statute.
An Elderly or Disabled Person's Homestead protects the real property of the person benefited by the homestead from attachment, seizure, execution or judgment for all but the following debts:
a. federal, state and local taxes, assessments, claims and liens
b. first and second mortgages
c. any and all debts, encumbrances or contracts existing prior to the filing of the Declaration of Homestead in the Registry of Deeds
d. an execution issued from the Probate Court to enforce its judgment for the support of a spouse or minor children
e. for ground rent due on land not owned by the owner of the homestead estate
Please consult an attorney if you have specific questions regarding MGL ch. 188 § 1 or 1A.
