Homestead Act of Massachusetts: Changes To The Law. | South Coast Mass
Homestead Act of Massachusetts: New Changes to the Law.
On March 16, 2011 the Massachusetts legislature made a series of changes to the Homestead Act. (MA General Laws, Chapter 188). Under these amended Homestead Act, the new law creates an automatic $125,000 protection against your homes equity even without filing a Declaration of Homestead at the Registry of Deeds. Homeowners who file a written Declaration of Homestead will still receive protection up to $500,000 of your homes equity. The new law requires that the written declaration be signed by each owner to be benefited by the Homestead Act. If you own your home with your spouse, both of you must sign the Declaration and file it with the Registry of Deeds.
Under the new homestead protection act, transfers among family members will not terminate the previously declared homestead. Neither divorce or re-marriage will affect the homestead protection of the spouse who primarily resides in the home.
The new law provides homestead protection to the beneficiaries of trusts* that hold title to the residence, provided that the home is the beneficiaries primary residence. Only the trustee has the authority to execute the Declaration of Homestead on behalf of the trust’s beneficiaries.
For homeowners over the age of 62 (elderly) of legally disabled, the new law states that a homestead maybe filed on each individuals behalf and if two owners qualify for the elderly of disabled protection, the aggregate increases to $1,000,000.
Other changes that to the Homestead Act include: Homeowners who sell their primary residence will be allowed the same homestead protection on the proceeds of the sale of the house for up to 1 year from the date of sale, or when a new primary residence is purchased, whichever is sooner. Homesteads are now allowed on 2-4 family homes. No need to re-do the Homestead after a re-finance.Registry Of Deeds New Bedford Ma - Bookshelf
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Bristol County Registry of Deeds Southern District
A public service of the Bristol County Southern District Registry of Deeds ... The Registry of Deeds is the recording office of all land transactions in the Greater New Bedford ...
Registry of Deeds - Bristol South: Homestead
On this _ day of _20___, before me, the undersigned notary public, personally ... Bristol South Registry of Deeds. 25 N. 6th Street. New Bedford, MA 02740 ...
Registry Of Deeds New Bedford, MA
New Bedford MA Registry Of Deeds
Registry of Deeds
Massachusetts Registry of Deeds
This is a directory to the county registry of deeds in Massachusetts, including contact information