What Exactly Does This Mean? - Mothering Forums

 
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#1 of 3 Old 01-08-2013, 08:41 PM - Thread Starter
 
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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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#2 of 3 Old 01-08-2013, 09:21 PM
 
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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.

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#3 of 3 Old 01-08-2013, 09:28 PM - Thread Starter
 
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But only up to $250K in property value, right?


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