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 Nevada, the homestead exemption is a legal provision designed to protect the value of a person's home from creditors and during bankruptcy proceedings. Under Nevada Revised Statutes (NRS) 115, homeowners may exempt up to $605,000 of their home's value from most creditors. This means that in the event of a forced sale to satisfy debts, up to this amount may be protected. To claim the homestead exemption in Nevada, a homeowner must file a Declaration of Homestead with the county recorder's office where the property is located. This declaration is a simple document that states the property is the primary residence of the owner and is intended to be a homestead. The exemption applies to the dwelling, its appurtenances, and the land on which it is situated. It is important to note that the homestead exemption in Nevada does not protect against all types of debts, such as mortgages, taxes, alimony, child support, or money owed to the federal government. Additionally, the exemption is automatic upon the recording of the declaration and continues until the property is no longer the primary residence of the owner, or until the owner abandons the property, which would require proof of intent and action to no longer use the property as a home.