Homestead Act

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Homestead Act

n.
An act passed by Congress in 1862 enabling persons who settled on undeveloped 160-acre tracts of land to gain title after meeting certain criteria, such as residing on and cultivating the land for five years after the initial claim.

Homestead Act

n
1. (Law) an act passed by the US Congress in 1862 making available to settlers 160-acre tracts of public land for cultivation
2. (Law) (in Canada) a similar act passed by the Canadian Parliament in 1872

Home′stead Act`


n.
a special act of Congress (1862) that made public lands in the West available to settlers without payment, usu. in lots of 160 acres, to be used as farms.
References in periodicals archive ?
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.
with the homestead laws, consideration of both of the major changes that
And above all, use the homestead laws and/or a business structure to protect your investment (7) Make Your House Give You Money.
Under the homestead laws in Texas, homeowners can file for immediate protection status that will legally safeguard their homes from being seized in creditor proceedings.
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.
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.
Under the designation homestead laws in Texas, homeowners can file for immediate protection status that will legally safeguard their homes from being seized in creditor proceedings.
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.
Additionally, all of our branches are preparing to refer B&C home equity loans to FIRSTPLUS, but our Texas branches expect to be especially active in this endeavor after the Texas homestead laws are modified.
For a discussion on moving to Florida to exploit favorable homestead laws, see Barry A.
1978) ("Great care should be taken to prevent homestead laws from becoming instruments of fraud, an imposition on creditors, or a means to escape honest debts.