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 Wyoming, the homestead exemption is designed to protect a portion of a person's home and adjoining land from being forcibly sold to satisfy debts, ensuring that individuals have a secure place to live despite financial troubles. Wyoming's homestead exemption is codified in Wyoming Statutes Annotated § 1-20-101 et seq. As of the knowledge cutoff in 2023, the exemption amount is up to $20,000 in equity for an individual and $40,000 for a married couple. This exemption applies to the dwelling used as the primary residence, including the house, outbuildings, and adjoining land. The exemption is automatically applied; no specific writing is required to claim it, only proof of use and the intent to claim the property as a homestead. The exemption is available to the entire family and not just to individual spouses, meaning that as long as one spouse intends and uses the property as a family homestead, it is protected. The property remains a homestead and retains its exempt status unless there is abandonment, alienation, or death. Abandonment requires a cessation of use and the intent not to return, and the burden of proof for abandonment lies with the party asserting it.