Medway & Millis February 2020

Page 30 Medway & Millis Local Town Pages www.localtownpages.com February 2020
Berkshire
Hathaway
HomeServices
Page Realty
Congratulates our 2019 Agent of
the Year, Kim Bloom.
Kim has 30+ years of experience
and her success is based on client
trust. She provides every client
the highest level of commitment
to ensure the process of buying or
selling your home is a smooth
one. Congratulations Kim.
Visit
medwayhomevalue.com
or millishomevalue.com
for a free instant home
valuation
2020 A member of the franchise
system of BHH Affiliates, LLC
82 Holliston St., Medway
(508) 533-5122
BHHSPageRealty.com
Register O’Donnell Promotes
Homestead Act
Register of Deeds William P.
O’Donnell is again reminding
Norfolk County homeowners
about the importance of filing
for Homestead protection.
Under Massachusetts law, recording
a Homestead provides
a homeowner with limited protection
against the forced sale of
their primary residence to satisfy
unsecured debt up to $500,000.
“For most of us, our home
is the most important financial
asset we have,” noted Register
O’Donnell. “If you own a home,
and it is your primary residence,
one way to protect it is to file a
Homestead. The Homestead
law also allows for the filing of
an Elderly Homestead application,
which defines an elder as a
person who is 62 years of age or
older. This protection can be increased
if the elderly couple files
jointly.”
O’Donnell further stated,
“The Homestead law was updated
by an act of the Massachusetts
Legislature back in
2011. Current language in the
law states a valid Homestead
cannot be terminated when refinancing
a mortgage. Other
enhancements that took place
in 2011 state that a Homestead
can provide protections for a
primary home even if it is kept
in trust. The definition of a primary
residence has been further
expanded to include a manufactured
or mobile home.”
While a Homestead provides
important protections for homeowners,
it is important to note
there are certain debts that are
exempted from protection under
the Homestead Act. These include
federal, state and local tax
liens, as well as mortgages contracted
for the purchase of a primary
home and nursing home
liens. Most other mortgages,
debts, and encumbrances existing
prior to the filing of the Declaration
of Homestead, along
with probate court executions
for spousal and child support,
are also not covered under the
Homestead protection statute.
Homestead recordings can
be filed at the Registry of Deeds
for a state imposed fee of $36.
To find out more about the
Homestead law, or to get a free
application, please go online to
the Registry’s website at www.
norfolkdeeds.org or contact the
Registry’s Customer Service
Center at (781) 461-6101.
Register O’Donnell concluded,
“A Homestead is an
important consumer protection
tool that provides limited protection
against the forced sale of a
homeowner’s primary residence
to satisfy unsecured debt up to
$500,000. While the debt is still
HOMESTEAD
continued on page 31
Congratulations to our
2019 National Award Winners
Leading Edge
Kim Bloom Jodi Kairit Josh Handverger
Candice Beecher
Honor Society
Colleen Henney
Aaron Pyman
Kim Ellis
2020 A member of the franchise system of BHH Affiliates, LLC
82 Holliston St., Medway
(508) 533-5122
BHHSPageRealty.com