What is the Massachusetts Homestead Act?
As a homeowner in Massachusetts, the Homestead Act* is designed to protect
the owner or owner’s surviving spouse against the claims of creditors,
or the forced sale of their home to pay for a debt. (*M.G.L.c. 188, ss. 1-10)
How can it protect you?
The Massachusetts Homestead Act allows a homeowner to declare their primary
residence “off limits” to creditors for up to $500,000 (except
for certain cases that are specifically excluded by Massachusetts statute)
of the equity in their home. Consult with a qualified bankruptcy attorney
regarding how the Massachusetts Homestead Act may apply to a personal bankruptcy.
Pursuant to the new Bankruptcy Law which was signed into law in 2005, a Homestead
exemption may be restricted to $125,000 under certain circumstances.
Call the law offices of Michael T. Eramo to learn how filing
a low cost Massachusetts Homestead Declaration on your primary
residence may protect the equity in your home for up to $500,000.
Call today and receive information on how our office can record
a Homestead declaration on your primary residence.
Contact our office by phone or e-mail.
