The Office of the Secretary of the Commonwealth has issued a pamphlet and forms for declaring a homestead under the new homestead law that became effective on Wednesday, March 16th.
The pamphlet and forms are accessible on the Secretary's website.
Showing posts with label Homestead Act. Show all posts
Showing posts with label Homestead Act. Show all posts
Wednesday, April 27, 2011
Monday, March 14, 2011
New Homestead Pamphlet and Forms
The Office of the Secretary of the Commonwealth has issued a pamphlet and forms for declaring a homestead under the new homestead law that goes into effect on Wednesday, March 16th. The pamphlet and forms are accessible on the Secretary's website.
Friday, March 11, 2011
New Homestead Law Takes Effect March 16th
Revisions to the Massachusetts Homestead Law will go into effect on March 16, 2011. Chapter 395 of the Acts of 2010, AN ACT RELATIVE TO THE ESTATE OF HOMESTEAD, revises and replaces the provisions of the Massachusetts Homestead Act, G.L. c. 188. The amendment provides additional definition and clarifies a number of uncertainties in the existing statute. More information is available at the General Court’s webpage.
The Registry of Deeds is working with the Office of the Secretary of the Commonwealth to provide new homestead forms and information materials. The new information will be posted here on the Worcester Registry of Deeds blog.
Highlights of the New Law:
The Registry of Deeds is working with the Office of the Secretary of the Commonwealth to provide new homestead forms and information materials. The new information will be posted here on the Worcester Registry of Deeds blog.
Highlights of the New Law:
- Automatically protects up to $125,000 in home equity without filing
- Protects up to $500,000 for those who file for homestead protection
- Allows spouses to both file-- currently only one may file
- No need to re-file after refinancing
- Provides coverage for homes kept in trusts
- Homesteads currently in effect will remain in full force notwithstanding their failure to comply with provisions of the new statute
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