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What Exactly Does This Mean?

post #1 of 3
1/8/13 at 8:41pm
Thread Starter 

I don't know if this is the right place to post this. If it's not, feel free to ignore or delete it. Can anyone provide insight to exactly what this means?

 

http://msuextension.org/publications/FamilyFinancialManagement/MT199815HR.pdf

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post #2 of 3
1/8/13 at 9:21pm
It's a homestead declaration to protect your home being sold because of a lawsuit or other creditors. It doesn't protect against a mortgage or builders etc that directly relate to the house. Mostly this would protect you if say credit card debtors or a car wreck lawsuit or whatever caused a lawsuit you have to pay for.
post #3 of 3
1/8/13 at 9:28pm
Thread Starter 

But only up to $250K in property value, right?

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