homestead declaration
A homestead is a house, outbuildings and adjoining land owned by a person or a family and used as a residence . A homestead declaration is a form filed with the county recorder's office that records a person's homestead exemption ; which is a legal provision that prevents creditors from being paid off from a debtor's homestead, and also includes a homestead‘s exemption from property taxes and the death of the homeowner's spouse.
In most states, homestead exemptions are automatic and homeowners are not required to record a homestead declaration in order to claim a homestead exemption. Some states, however, do require recording in this procedure.
Usually the homestead declaration is signed by the homeowner, notarized , and then filed in the recorder's office in the county where the home is located.
See also: homestead exemption ; homestead
[Last reviewed in March of 2022 by the Wex Definitions Team ]
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