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 Virginia, the homestead exemption is a legal provision that protects a portion of a homeowner's primary residence from creditors in the event of bankruptcy or financial distress. As of the knowledge cutoff in 2023, Virginia law allows individuals to exempt up to $25,000 of their home or other property covered by the homestead exemption. Additionally, Virginia allows an extra $5,000 exemption for a dependent, and individuals over the age of 65 can claim an additional $10,000 exemption. The homestead exemption in Virginia is not automatic; homeowners must file a homestead declaration with the court to claim the exemption. The exemption applies to the homeowner and their family, and it is intended to provide a measure of security and stability by ensuring that families are not left homeless in the face of debt collection. The exemption remains in effect as long as the property is used as a primary residence and is not abandoned, sold, or the owner passes away. If a claim of abandonment is made, the burden of proof lies with the party asserting abandonment, and they must provide competent evidence to support their claim.