What is a homestead exemption?

investment in realty that a debtor must forfeit

equity in a home that a debtor is permitted to retain

remainder of the debtor's interest in commercial property that is returned to him after fulfilling creditors' claims

all of the debtor's assets converted to cash

The answer is "equity in a home that a debtor is permitted to retain".

A homestead exemption shields the estimation of a home from property expenses and lenders following the demise of a mortgage holder life partner. A homestead exemption can be found in state resolutions and sacred arrangements over the U. S. also, is a programmed advantage in a few states. In states where the estate insurance isn't programmed, mortgage holders must document a case which must be re-recorded while moving main living places