I own a three family home in Brookline, Massachusetts and I want to record a declaration of homestead. I live in one of the units and rent out the other two. Can I do that? Will the declaration of homestead be effective? Does it matter that I live in the home?
As an owner occupant you may file a declaration of homestead, which will provide protection from creditors. The declaration of homestead will not reduce the amount you may owe a creditor, but will protect you from being evicted from your residence to satisfy a debt during your lifetime.
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