A homestead declaration in North Carolina is a legal document that protects a homeowner's primary residence from creditors in the event of bankruptcy or other financial crises. To obtain a homestead declaration, one must file a written document with the Register of Deeds in the county where the property is located and pay a filing fee. North Carolina regulations determine the maximum amount of equity that can be protected by a homestead declaration, which varies based on the homeowner's age and disability status. While a homestead declaration does not exempt the property from property taxes or mortgage payments, it can provide a crucial safety net for those seeking to protect their homes from financial hardship.