Definition of "Homestead"

Gina  Sohmer
Gina Sohmer Phyllis Browning Company

Legal status conferred by certain states on a homeowner's principal residence. In certain states, homestead status may provide protection against creditor claims or forced land sales providing the homeowner continues to maintain his or her residence there. Homestead status may also qualify the homeowner for a homestead exemption.

Search Real Estate Glossary

Related Real Estate Glossary terms

Related Real Estate FAQ