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| 2 | 2 | | HOUSE DOCKET, NO. 3450 FILED ON: 1/20/2023 |
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| 3 | 3 | | HOUSE . . . . . . . . . . . . . . . No. 3590 |
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| 4 | 4 | | The Commonwealth of Massachusetts |
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| 5 | 5 | | _________________ |
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| 6 | 6 | | PRESENTED BY: |
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| 7 | 7 | | Kip A. Diggs |
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| 8 | 8 | | _________________ |
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| 9 | 9 | | To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General |
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| 10 | 10 | | Court assembled: |
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| 11 | 11 | | The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill: |
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| 12 | 12 | | An Act to increase the protection of homestead. |
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| 13 | 13 | | _______________ |
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| 14 | 14 | | PETITION OF: |
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| 15 | 15 | | NAME:DISTRICT/ADDRESS :DATE ADDED:Kip A. Diggs2nd Barnstable1/17/2023 1 of 2 |
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| 16 | 16 | | HOUSE DOCKET, NO. 3450 FILED ON: 1/20/2023 |
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| 17 | 17 | | HOUSE . . . . . . . . . . . . . . . No. 3590 |
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| 18 | 18 | | By Representative Diggs of Barnstable, a petition (accompanied by bill, House, No. 3590) of Kip |
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| 19 | 19 | | A. Diggs relative to homestead protection. The Judiciary. |
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| 20 | 20 | | The Commonwealth of Massachusetts |
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| 21 | 21 | | _______________ |
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| 22 | 22 | | In the One Hundred and Ninety-Third General Court |
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| 23 | 23 | | (2023-2024) |
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| 24 | 24 | | _______________ |
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| 25 | 25 | | An Act to increase the protection of homestead. |
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| 26 | 26 | | Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority |
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| 27 | 27 | | of the same, as follows: |
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| 28 | 28 | | 1 SECTION 1. Section 1 of chapter 188 of the General Laws, as appearing in the 2020 |
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| 29 | 29 | | 2Official Edition, is hereby amended by striking out, in lines 5 and 10, the figure “$125,000” and |
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| 30 | 30 | | 3inserting in place thereof, in each instance, the following figure:- $250,000. |
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| 31 | 31 | | 4 SECTION 2. Said section 1 of said chapter 188, as amended by section 30A of chapter |
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| 32 | 32 | | 5175 of the acts of 2022, is hereby further amended by striking out the definition “Declared |
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| 33 | 33 | | 6homestead exemption” and inserting in place thereof the following definition:- |
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| 34 | 34 | | 7 “Declared homestead exemption”, an exemption in the amount of $1,000,000 created by |
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| 35 | 35 | | 8a written declaration, executed and recorded pursuant to section 5; provided, however, that: (1) |
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| 36 | 36 | | 9with respect to a home owned by joint tenants or tenants by the entirety who are benefited by an |
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| 37 | 37 | | 10estate of homestead declared pursuant to section 3, the declared homestead exemption shall |
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| 38 | 38 | | 11remain whole and unallocated provided, that the owners together shall not be entitled to a |
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| 39 | 39 | | 12declared homestead exemption in excess of $1,000,000; (2) if a home is owned by tenants in 2 of 2 |
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| 40 | 40 | | 13common or trust beneficiaries, the declared homestead exemption for each co-tenant and trust |
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| 41 | 41 | | 14beneficiary who benefits by an estate of homestead declared pursuant to said section 3 shall be |
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| 42 | 42 | | 15the product of: (i) $1,000,000 divided by, (ii) the number of co-tenants or trust beneficiaries who |
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| 43 | 43 | | 16reside in the home as a principal residence; (3) except as provided in clause (4), each person who |
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| 44 | 44 | | 17owns a home and who is benefited by an estate of homestead declared pursuant to section 2 shall |
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| 45 | 45 | | 18be entitled to the declared homestead exemption without reduction, proration or allocation |
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| 46 | 46 | | 19among other owners of the home; and (4) separate estates of homestead may be declared |
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| 47 | 47 | | 20pursuant to sections 2 and 3 on the same home and in such event: (i) if the home is owned by |
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| 48 | 48 | | 21tenants in common or trust beneficiaries, the declared homestead exemption for each co-tenant |
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| 49 | 49 | | 22and trust beneficiary who benefits by an estate of homestead declared pursuant to section 3 shall |
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| 50 | 50 | | 23be calculated in the manner provided in clause (2) and the declared homestead exemption for |
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| 51 | 51 | | 24each co-tenant and trust beneficiary who benefits by an estate of homestead declared pursuant to |
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| 52 | 52 | | 25section 2 shall be calculated in the manner provided in clause (3); or (ii) if the home is owned by |
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| 53 | 53 | | 26joint tenants or tenants by the entirety, the declared homestead exemption for the owners |
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| 54 | 54 | | 27together shall be the sum of $1,000,000 multiplied by the number of declarations recorded |
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| 55 | 55 | | 28pursuant to section 2, plus $250,000; provided, however, that the homestead exemption under |
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| 56 | 56 | | 29this subclause shall remain whole and unallocated among the owners; and provided further, that |
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| 57 | 57 | | 30no owner who declares a homestead, acting individually, shall be entitled to claim an exemption |
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| 58 | 58 | | 31of more than $1,000,000; and (5) the calculation of the amount of homestead exemption |
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| 59 | 59 | | 32available to an owner shall not sever a joint tenancy or tenancy by the entirety. |
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