Friday, December 17, 2010

Governor signs new homestead law

Governor Patrick signed into law a major revision of the Commonwealth's Homestead Law today. Passed by the legislature just two weeks ago, the new law clarifies many ambiguities about the existing statute and adds several new consumer friendly provisions. I've written about the new bill here and here. It will take effect 90 days from today.

2 comments:

Mike said...

So do homeowners need to file a new homestead or are the existing ones grandfathered into the new terms?

Dick said...

The new law states that existing homesteads are grandfathered into the new law.