In Massachusetts, an estate of Homestead is an interest in real property designed to protect the possession and enjoyment of the owner, or the owner's surviving spouse, against the claims of creditors by protecting the property from execution and forced sale, so long as such person occupies or intends to occupy the property as his or her principal place of residence (MGL Chapter 188, Section 1-10).
As of March 16, 2011, legislative changes to the Homestead Act have taken effect. Here's what you need to know:
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