The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-01-31
PROTECT YOUR HOMESTEAD.
What Is Necessary to do so Under th'
New Codes.

What Is Necessary to do 30 Under the
New Codes.
Billings Gazette: The Gazette. in talk
ing with Judge George r. Milburn, was
advised to again call attention to the new
homestead law, with which lie thinks the
public in general is not familiar, and con-
corning which something should be
known by every one who owns property.
We have reference to the exemption of
homesteads from the satisfaction of
judgment secured for certain kinds of
debt.
In most states the homestead is exempt
from the execution of a judgment except
for mortgages given upon IL or for me-
chanics', laborers' or vendors liens. Such
was also the case in Montana until the
new codes went into effect, since which
time a process of law has become neces-
sary to secure this right to the home
stead. The statutes define a homestead
as the dwelling house in which one re-
sides and the land on which ii is stu
ated selected as such by declaratory
statement. In order to select a home
stead the head of the family executes and
acknowledges a declaration of homestead
and files II for record with the county
clerk. The declaration must contain
statement showing that he or she is the
head of the family, or when made by the
wife must show that the husband has
not made such declaration and that she
makes IL for their joint benefit. 1t must
contain a statement that the person max
ing II is residing on the premises and
claims it as a homestead, together with a
description and an estimate of the actual
cash value of IT. Another section provides
for the abandoningof the homestead. This
is for the purpose of relieving those who
wish to change their place of residence
and make a new homestead. The record
of first homestead must be satisfied by
abandonment before a second can be
filed
The homestead is subject to execution
or foreclosure in satisfaction of judg
ments obtained under the following con-
ditions: Before the declaration was filed
for record, excepting judgments obtained
before the new codes went into effect: on
debt secured by mechanics, laborers or
vendors lien upon the premises; on debts
secured by mortgages executed and ac-
knowledged by the husband and wife; on
debts secured by mortgages executed and
recorded before the declaration of home
stead was filed for record. In making an
application for enforcement of judgment
the petition must show that execution
has been levied upon the homestead in
the name of the claimant. and that the
value of the homestead exceeds the
homestead exemption. which is $500.
No homestead in the country may ex-
coed $50 acres of land, with its improve
ments, while i'm a town or city IL may not
exceed one-quarter of an acre, the value
in each case being limited to s., 800: nor
can IL be conveyed or encountered with
out the acknowledged signatures of both
husband and wife. In the case of death
the right is vested in the heirs, with the
right of use by the husband or wife.
whichever IL may be. during life.
AS but three declarations of homestead
have been made in the Seventh district
since the new codes went into effect, the
Gazette thought 1t due 10 a lack of
knowledge of the change in the home
stead laws and has given this exposition
that property owners may be Informed
about IL and protect themselves