Homestead Laws

10 Oct Homestead Laws

State homestead laws are created with two primary purposes – (1) to provide some legal protection for the homestead claimants from debts and judgments against them that might result in a forced sale and loss of the home, and (2) to provide a home for a widow or widower for life. Homestead laws also act to restrict one spouse from acting without the other spouse’s knowledge when conveying the homestead or using it as collateral for a loan. Not all states have state homestead laws. Dower, curtesy, and community property rights are automatic in those states that have them.

Related Posts Plugin for WordPress, Blogger...
The following two tabs change content below.
Jay S. Fleischman is a bankruptcy lawyer with offices in Los Angeles and New York. He can often be found on Google+ and Twitter, where he shares information about consumer protection issues and personal finance.
1Comment

Sorry, the comment form is closed at this time.