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 Colorado, the homestead exemption is designed to protect a portion of a person's home equity from being seized to pay off most types of creditors. As of the knowledge cutoff in 2023, the exemption amount is up to $75,000 for most homeowners and up to $105,000 for the elderly (over 60 years old) or disabled. This exemption applies to the house, outbuildings, and adjoining land used as the primary residence. The homestead exemption in Colorado is automatic—no specific filing is required to claim it. However, the homeowner must occupy the property and intend to use it as a primary residence. The exemption applies to the entire family and not to individual spouses, ensuring that the family homestead is protected as long as one spouse has the intention and uses the property as such. The property remains exempt unless there is abandonment, alienation, or death. Abandonment would require a cessation of use and the intent not to return, and the burden of proof for abandonment lies with the party asserting it. It's important to note that the homestead exemption does not protect against secured creditors such as mortgage holders or certain other types of debts like child support or tax liens.