A homestead or homestead estate generally includes a house, outbuildings, and the adjoining land owned and occupied by a person or family as a primary residence.

Many states—but not all—have laws that protect a person’s homestead from forced sale for the satisfaction (payment) of debts—at least up to a certain amount of the homestead’s value. These laws may be referred to as homestead exemptions or homestead laws and may be located in a state’s constitution or in its statutes.

The homestead exemption exists to provide a secure home for the family against creditors. The exemption is liberally construed to further its purposes. No specific writing is needed to claim a homestead exemption, but instead merely proof of concurrent usage and intent on the part of the owner to claim the land as a homestead.

In some states the constitutional family homestead exemption applies to the entire family, and not to either spouse individually. Therefore, so long as real property is a family homestead due to one spouse's intention and use, that property is protected by the homestead exemption, unless full abandonment has been pleaded and proved. Once a property has been established as a homestead, the property remains exempt unless it ceases to be a homestead due to abandonment, alienation, or death.

Abandonment of a homestead occurs when the homestead claimant ceases to use the property and intends not to use it as a home again. Anyone asserting abandonment of a homestead has the burden of proving it by competent evidence.

In Iowa, the homestead exemption is a legal provision designed to protect homeowners from losing their primary residence in the event of financial distress or bankruptcy. This exemption allows homeowners to declare a portion of their property as a 'homestead' and thus shield it from being forced into sale by creditors to satisfy debts. Iowa's homestead exemption is quite generous, allowing an exemption of up to half an acre of land in a city or town, or up to 40 acres of land in the country, along with the dwelling house on the property. The value of the homestead that can be exempted is not limited by a specific dollar amount, which means that the entire value of the property may be protected, subject to the acreage limitations. The exemption applies to a family or single adult, and no written declaration is required to claim the exemption; rather, the individual must demonstrate intent and actual use of the property as a primary residence. The exemption extends to surviving spouses or children, and it continues until the property is abandoned, sold, or the owner passes away. Abandonment of the homestead would require proof that the homeowner has ceased to use the property as a primary residence and does not intend to return.