Homestead Act

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Homestead Act

an act passed by the US Congress in 1862 making available to settlers 160-acre tracts of public land for cultivation.
References in periodicals archive ?
homestead laws in a state constitutional context as interpreted by the
with the homestead laws, consideration of both of the major changes that
Dakota Territory Supreme Court decisions touch on our homestead laws in
The list includes laws dealing with contracts, torts, criminal law, homestead laws, rights to collect debts, acquisition and transfer of real estate, taxation and zoning.
The court cited to Law to note that since the debtor and his wife claimed to have an intact marriage, then the debtor could use Florida's homestead laws as an instrumentality of fraud for purposes of claiming a homestead exemption.
Construing the homestead laws liberally in the debtor's favor, the court concluded his "16.6 acres in Spink County were Debtor's homestead on the petition date and that he validly declared the 16.6 acres exempt." (237) By the petition date, the debtor had not undermined his homestead claim by taking employment elsewhere and planning to move in the near future.
This anomaly resulted from the interplay between Florida's homestead laws, under which a surviving spouse can receive a life estate, fee simple title, or a one-half tenants in common interest (depending on circumstances), and the differing treatment under the elective share statute of protected homestead versus tenants by the entireties property.
Florida has been a popular choice to take up residency for many individuals because of the expansive creditor protection afforded by the homestead laws in this state.
Florida's homestead laws have created a new trap for surviving spouses--the life estate that was designed to protect them has instead trapped them in homes they no longer want and can no longer afford.
Based on its analysis of the Florida homestead laws and BAPCPA [section] 522(m), the court concluded that in Florida, joint debtors should be able to "stack" their exemptions for a total of $250,000.
For a discussion on moving to Florida to exploit favorable homestead laws, see Barry A.