An Act to increase the protection of homestead

This bill increases the financial protection available to homeowners in Massachusetts against creditors. It raises the standard homestead exemption from $125,000 to $250,000 and establishes a new "declared homestead exemption" of up to $1,000,000 for owners who file a specific written declaration. The legislation also clarifies how these exemptions are calculated when a home is owned by multiple people, such as joint tenants or trust beneficiaries, ensuring the total protection remains whole for certain ownership types. These changes directly affect homeowners who wish to shield their primary residences from forced sale due to debt.