Massachusetts Homestead Act – A Legal No-Brainer!!!
For many, your home is the most valuable property you will ever own. Not only is it money in the bank, but it’s an investment that you enjoy every day (except when the water heater bursts or the roof leaks!!)
What would happen if that home was sold by one of your creditors to satisfy your debt that you neglected to pay?
What would happen if one day you came home, and instead of a package from Amazon, the Sheriff was standing on your porch handing you a Summons to appear in Court?
What would happen if one day you came home and discovered that annoying collection agent for your Credit Card Company was using your jacuzzi? – OK, maybe that’s a stretch…
The point is, without Homestead protection the most valuable and cherished thing in this world that you own may be lost forever.
The Massachusetts Homestead Law, if properly recorded at the Registry of Deeds in the County in which your home is located, may protect your home against the claims of many of your creditors, if:
You live in the house or plan to live in the house, and
You use it or plan to use it as your “primary” residence – where you live most of the time.