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Entries in Exemption (1)

Wednesday
Dec292010

New Homestead Law in Massachusetts

The new homestead law in Massachusetts which takes effect March 16, 2011, enables all homeowners to automatically receive a homestead exemption of $125,000 and to obtain a $500,000 “declared homestead exemption” of $500,000 by filing a written declaration at the applicable registry of deeds. The new law also allows homesteads to be declared on property held in trust and clarifies that there is no need to refile after refinancing. (From Massachusetts Law Updates from the Massachusetts Trial Court Law Libraries). For more information visit: masslawlib.blogspot.com