Homestead at Real Estate Glossary

What is it? A statutory exemption of real property used as a home from the claims of certain creditors and judgments up to a specified amount; requires a declaration of homestead be completed and filed with the county recorders office.

Real Estate Definition Added By: Colin

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Other Similar Real Estate Terms:

Real Estate Term Mortgage Banker is A person, corporation or firm (not otherwise in banking and finance) that normally provides its own funds for mortgage financing as opposed to savings and loan associations or commercial banks that use other peoples money - namely that of their depositor

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Real Estate Term Mill is One-tenth of one cent. Some states use a mill rate to compute real estate taxes; for example, a rate of 52 mills would be $0.052 tax for each dollar of assessed valuation of a property.

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