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 New Hampshire, the homestead exemption is designed to protect a portion of a person's primary residence from being seized and sold to satisfy creditor debts. Under New Hampshire state law, specifically RSA 480:1, individuals are entitled to a homestead exemption of up to $120,000 in equity in their home. This means that this amount is protected from claims of unsecured creditors. The homestead exemption in New Hampshire applies to the house, outbuildings, and adjoining land that is used as the owner's primary residence. It is not necessary to file any special documentation to claim this exemption; rather, the owner must demonstrate the intent to use and the actual use of the property as a primary residence. The exemption is intended to provide financial security for homeowners and their families, ensuring that they have a secure place to live despite financial difficulties. If a homeowner abandons the property, the exemption may no longer apply, and the burden of proving abandonment rests on the party asserting it. It's important to note that certain debts, such as taxes and liens for home improvements, may not be subject to the homestead exemption.