Real estate homestead

Real estate homestead – this legal term details social provisions stipulated in the legislation of modern and developed socially pointed countries. They benefit property owners and occupants who experience financial difficulties. The homestead usually gives these parties security against their creditors – banks and Tax Authorities. The more developed and democratic the particular country is, the bigger is the homestead security of the concrete citizen (debtor) against creditors. Somewhere the only home of a debtor can not be seized either sold by bailiffs. In addition, somewhere a widow and her children can not be taken out of a mortgaged home. Also they may receive reduce of their taxes. Basically such measurements prevent people from losing their homes.

See also “debtor”

Real estate homestead / Legal Glossary

Posted in: R