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 Oregon, the homestead exemption is designed to protect a portion of a person's home equity from creditors in the event of bankruptcy or other financial distress. As of the knowledge cutoff in 2023, Oregon law allows homeowners to exempt up to $40,000 of their home's value for an individual and $50,000 for a couple filing jointly. This exemption applies to a house, mobile home, or other dwelling that serves as the primary residence, along with the land it is on. The homestead exemption in Oregon is automatic and does not require specific documentation to claim; however, proof of residency and the intent to use the property as a primary residence are necessary. The exemption is intended to provide a secure home for the family and is liberally construed to achieve this purpose. In Oregon, the homestead remains exempt unless there is evidence of abandonment, alienation, or death of the owner. Abandonment would require a clear demonstration that the homeowner has ceased to use the property as a primary residence and does not intend to return.