Real Estate

Homestead

If you own your home, you should consider declaring a homestead. Under Massachusetts law, a person may declare a homestead for his or her family on his primary residence by filing a declaration of homestead at the appropriate Registry of Deeds. A single owner can declare a homestead for his or her own benefit. Under the homestead statute, the first One hundred Thousand Dollars ($100,000.00) in value of your primary residence is protected against most claims of creditors. However, homestead declarations do not protect your property from certain specific debts - for example, taxes, child support, pre-existing debts, debts incurred in purchasing the property. An attorney can discuss with you the specific exemptions.

If you are 62 years or older or disabled (regardless of age), each individual can claim a homestead which protects the first Two Hundred Thousand Dollars ($200,000.00) in value of your primary residence. You should protect your home today.

Law Offices of Mark A. Gallant, P.C.
Attorney at Law
248 Andover Street
Peabody, MA 01960
Peabody Office: (978) 538-0066
Fax: (978) 538-0122
E-mail: mgallant@nii.net

Newburyport Office: (978) 463-0220