GUSHUE LAW
NEWS & RESOURCES
Legal News & Tips
New 2011 Massachusetts Homestead Act Protects Against Prior Debts
Chapter 188 of the General Laws of Massachusetts governs homesteads. On March 16, 2011, a new Homestead Act was enacted, completely overhauling the 150-year old homestead law. The new law provides all owner-occupiers of principal residences with an automatic $125,000 “homestead protection” from creditors. However, by simply recording a “Declaration of Homestead” in the Registry of Deeds, this can be increased to $500,000. Existing recorded homestead declarations in effect on March 16, 2011 remain in effect, and homesteads are automatically subordinated to mortgages. Pre-existing recorded liens are exception from homestead protection, but the new law now protects the equity in the home against debts incurred prior to the homestead.
Any homeowner(s) who occupies or intends to occupy the home as a principal residence may record a homestead. Sole owners, joint owners, tenants in common, owners of a life estate, and trust beneficiaries are included, and manufactured and mobile home owners are also eligible. Elderly (62 and older) and disabled homeowners homestead amounts may be aggregated to provide up to $1 million in homestead protection.
While homestead declaration forms are available from the Secretary of State and the Registry of Deeds, and the recording fee is only $35.00, the available protection varies with the facts and circumstances of the “owners”. Obtaining legal counsel may be prudent to ensure that all available benefits under the new law are secured.
Links to External Websites
We have included a few useful links to external websites to help you find information you may be looking for:
U.S. EPA, Region I (New England)
Code of Massachusetts Regulations
Massachusetts State Building Code
Massachusetts Department of Environmental Protection
Massachusetts Executive Office of Environmental Affairs
Massachusetts Environmental Policy Act (MEPA)
Massachusetts Geographic Information System (GIS)
Massachusetts Commission Against Discrimination (MCAD)
Massachusetts Head Injury Program
Massachusetts Department of Revenue
Massachusetts Department of Housing & Community Development
Historic USGS Maps of New England & New York
Please note that Gushue Law is not liable for the content of external websites. Following the links above implicitly constitutes acknowledgement and acceptance of this agreement.
Print