Homestead

Business, Legal & Accounting Glossary

Definition: Homestead




What is the dictionary definition of Homestead?

Dictionary Definition


  1. The house in which a family lives, plus any adjoining land and other buildings on that land.
  2. Real estate which is not subject to the claims of creditors as long as it is occupied as a home by the head of the household. After the head of the family dies, homestead laws often allow the surviving spouse or minor children to live on the property for as long as they choose.
  3. Land acquired out of the public lands of the United States. The term “homesteaders” refers to people who got their land by settling it and making it productive, rather than purchasing it outright.

Cite Term


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Page URL
https://payrollheaven.com/define/homestead/
Modern Language Association (MLA):
Homestead. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 26, 2021 https://payrollheaven.com/define/homestead/.
Chicago Manual of Style (CMS):
Homestead. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/homestead/ (accessed: September 26, 2021).
American Psychological Association (APA):
Homestead. PayrollHeaven.com. Retrieved September 26, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/homestead/

Definition Sources


Definitions for Homestead are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 22nd April, 2020 | 4 Views.