Homestead protection shields a primary residence by requiring certain creditors to wait for the payment of their debts, after taxes and mortgages are satisfied, and after receipt of the equity in a home up to the homestead exemption amount. Note that the new legislation does not impact the automatic homestead exemption; and if one does […]
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A recent decision by the US Bankruptcy Court has invalidated certain so-called “Homestead” protections in real estate that will likely affect many Massachusetts residents. First, a little background:
Until recently, Massachusetts was historically one of the worst states, if not the worst state, for a divorce. Prior to the most recently enacted alimony reform, alimony for the most part was considered a lifetime event. In an effort to reform and improve alimony, Massachusetts has now enacted new legislation called the Alimony Reform Act […]
