On August 6, 2024, Session Law 2024, c. 150, s. 51 (an Act relative to the Affordable Homes Act) increased the amount of the homestead exemption that is created by written declaration, from $500,000.00 to $1,000,000.00. This change amends section 1 of Mass. General Law chapter 188, the Homestead Statute. The increase takes effect immediately. If you filed a homestead declaration prior to August 6, 2024, you do not need to re-file your homestead declaration to qualify for the increased protections. For more information, you can view the session law, as well as the Secretary of the Commonwealth of Massachusetts’ Homestead FAQs page:
https://malegislature.gov/Laws/SessionLaws/Acts/2024/Chapter150
https://www.sec.state.ma.us/divisions/registry-of-deeds/homestead-faq.htm