Homestead protection increased to $1,000,000.00

Effective August 6, 2024, you can protect up to $1,000,000 in equity in your primary residence from the claims of creditors, up from $500,00.  

Equity is the difference between your home's fair market value and what you owe on your mortgage and HELOC, and certain other debts.

This is only for declared homesteads.

The cap on statutory homesteads remains $125,000. 

The increase is retroactive, so you don't have to record a new homestead if you already have one.

Contact us to discuss which of the several types of homesteads is best for you.

We handle transactions involving both vacant and developed land.

o  The residential properties include single-family houses, condos and condo conversions, multi-family properties, and family vacation homes.

o  The commercial properties include office buildings, retail and professional office space, shopping malls, factories and other industrial space

o  Loans involving real estate, including construction loans and permanent loans

• We represent lenders and borrowers.
• The real estate piece may be the major part of the transaction (purchase money loans) or a minor part (mortgage to secure obligations under a spectrum of contracts).

o  Leases for commercial lessors and commercial tenants

o  Clearing title problems

• Prior owner’s undischarged mortgage
• Boundary disputes, including easements and adverse possession claims
• Missing probates

o  Budgeting to save for the down payment

o  How to find a property

o  The offer and the purchase and sale agreement

o  Special considerations for condominiums

o  The deed and taking title: which of the three ways is best for you?

o  Title insurance

o  Declaration of homestead

o  Budgeting and management

o  How to set and collect condo fees

o  How to schedule projects for maximum efficiency and minimal disruption

o  Special assessments – for when the regular condo fees are insufficient 

o  Help! My neighbor hasn’t paid the condo fees in months – what can we do?

o  Help! My neighbor’s lender is foreclosing.

Recorded land is a system for keeping track of land ownership in Massachusetts.  All documents related to recorded land situated in each county in Massachusetts is recorded chronologically and assigned a book and page number. Recorded documents are public records.  They are indexed by grantor, grantee, document type and address which allows the public to find and inspect each  document.

Registered land is a system of land recordation since 1898, in which the Massachusetts Land Court adjudicates and certifies the title to the property.  Owners of registered land are issued numbered certificates of title describing the property and noting any encumbrances (such as liens or mortgages) affecting the property.  Documents are filed (not recorded) in the Registered Land section, and are assigned document numbers (not book and page numbers).  Guidelines for filing documents affecting registered land are much stricter than the statutory requirements affecting recorded land.  Click here for Land Court Guidelines for more information.