Suing someone and the box that said “Homestead exemption waived” was marked as “YES”. What does that even mean? Google is confusing
In: Economics
A “homestead exemption” is a form of protection on a home that shields it from certain kinds of legal actions. Depending on the circumstances, it can reduce your property taxes, protect your home from creditors, provide you with tax relief and other things.
A homestead exemption waiver, then, would mean that someone is waiving this exemption. It was typically found in certain contracts or loan agreements basically allowing the home to no longer be protected and therefore up to be seized.
But they are typically no longer allowed.
PS. Get a lawyer.
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