Today I traveled to the Billerica Council on Aging to talk about the homestead. More than 30 people attended and we had a lively discussion about the Massachusetts homestead and related real estate issues. Quite a few of the attendees had previously recorded homesteads and were curious to learn if they had to record new ones since the law changed in March of 2011 (the answer to that is no in almost all cases since the new law grandfathers in existing declarations). Because this event took place at the Senior Center on a weekday it was predictable that the crowd would tend to be on the older side, so there were several questions about homesteads and the payment for stays in nursing homes (liens for money owed to the government are exempt from homestead protection). Still other questions involved transferring an interest in real estate to adult children or into trust.
For more information about the Declaration of Homestead check out the Massachusetts Law Library website.
Monday, October 07, 2013
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1 comment:
Good to know the ones that have been established can be grandfathered in..doesn't always work out that way, it's nice to see some things still run smoothly!
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