What is Homestead?

Homestead is a right to occupy one’s primary residence.  Homestead also has a set value of $120,000, which comes into play when creditors circle the waters.

Each person has a homestead in the amount of $120,000; therefore, for married couples, each spouse has a $120,000 homestead.

The homestead right is exempt from attachment by creditors, except in … Read the rest