Homestead laws vary from state to state, so it's important to update yourself on the specific laws in your location. Homestead laws are designed to protect the widow or widower from losing the home they live in. Each state has its own degrees of protection, and includes the actual home, as well as the land. The actions that are covered by the Homestead Laws include 1) Immunity from forced sale and 2) Property Tax Exemption.
These issues generally arise after the death of a spouse, when the remaining spouse might be unable to make mortgage or tax payments for the home. The law is intended to protect the living spouse from creditors who want to sell the home so that they can get paid, and they also shield the surviving spouse from impending property taxes, making them exempt. In some states, these laws become automatic once the spouse has died, but in many other states (and is generally the rule of thumb), these laws are not in effect and the spouse is not protected until they file the necessary legal documentation.
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The word "Homestead" itself implies that this law goes back to the times when people lived on prairies; however, in the eyes of the law, "homestead" refers to the primary residence of an individual. It is designed to protect the spouse in times of financial hardship when their marital partner passes away. Instead of being forced, immediately, to sell the home, or file for bankruptcy, the living spouse (who in many cases may be older, or retired), can find some relief in these Homestead Exemption Laws.
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