Chapter 188

Section 1. For the purposes of this chapter, the following words shall have the following meanings unless the context clearly requires otherwise: ''Automatic homestead exemption'', an exemption in the amount of $125,000 pursuant to section 4; provided, however, that: (1) with res…

Section 10. (a) An estate of homestead created under section 3 or 4 may be terminated by any of the following methods: (1) a deed to a non-family member conveying the home, signed by the owner and, if any, a non-owner spouse or former spouse who resides in the home as a principal…

Section 11. (a) If a home that is subject to an estate of homestead is sold, whether voluntarily or involuntarily, taken or damaged by fire or other casualty, then the proceeds of any such sale, taking or damage shall be entitled to the protection of this chapter during the follo…

Section 12. If the property of a debtor is assigned under the laws relative to insolvent debtors and debtor claims and it appears to the court wherein the insolvency proceedings are pending that the debtor is entitled to hold a part thereof as a homestead and that the property in…

Section 13. A recorded deed, release, mortgage, affidavit or other instrument of conveyance containing a statement of any facts set forth in clauses (6), (7) or (8) of subsection (a) of section 10 may be relied upon by a good faith purchaser for value and shall be conclusive proo…

Section 14. In all mortgage transactions, the closing attorney or settlement agent shall provide the mortgagor with notice of the right to declare homestead protection pursuant to this chapter, receipt of which shall be acknowledged in writing by the mortgagor. The notice shall i…

Section 2. (a) The estate of homestead of each owner who is an elderly or disabled person, regardless of marital status, shall be protected under this section against attachment, seizure, execution on judgment, levy and sale for payment of debts and legacies, except as provided i…

Section 3. (a) An estate of homestead to the extent of the declared homestead exemption in a home may be acquired by 1 or more owners who occupy or intend to occupy the home as a principal residence. The estate of homestead shall be created by a written declaration executed and r…

Section 4. In the absence of a valid declaration of homestead recorded under this chapter, an estate of homestead to the extent of the automatic homestead exemption shall exist in a home for the benefit of the owner and the owner's family members who occupy or intend to occupy th…

Section 5. (a) A declaration of homestead shall be in writing, signed and acknowledged under penalty of perjury by each owner to be benefited by the homestead, except as provided in clause (4), shall be recorded and shall comply with the following: (1) each owner to be benefited …

Section 6. In a case where a complaint for divorce, separate support, guardianship or conservatorship has been filed in the probate court by or against a person entitled to the benefit of an estate of homestead, the spouse and minor children of that person may use, occupy and enj…

Section 7. The estate of homestead existing at the death or divorce of a person holding a homestead under section 3 or 4 shall continue for the benefit of the surviving spouse or the former spouse and minor children who occupy or intend to occupy the home as their principal resid…

Section 8. No estate of homestead shall affect a mortgage, lien or other encumbrance previously existing, except as provided in this chapter.

Section 9. An estate of homestead shall be subordinate to a mortgage encumbering the home executed by all the owners of the home. For the purposes of this chapter, a mortgage shall include an instrument granting a security interest in a manufactured home or cooperative housing un…