Homestead: A (New) Hope
55 Pages Posted: 9 Dec 2018
Date Written: July 14, 2018
A finely-tuned balancing of commercial enterprise against a family's interests in shelter is at the heart of homestead exemption laws. In South Dakota, this balancing act has been displayed over a 145-year history in the form of legislative enactments, judicial decisions, and referendums. This history illuminates the expression of values against the dynamics of rule-making. A previously published article by this author, "Prequel to Homestead", outlined South Dakota's homestead laws under the contemporary statutory framework and also considered the constitutional history of homestead laws leading up to South Dakota's becoming a state in 1889. This article picks up where the prior article left off and presents judicial decisions dealing with the constitutional ambits of the homestead exemption beginning in 1889 and continuing through today. It concludes with an assessment of an unresolved homestead issue in the context of asset protection: whether a trust-owned or entity-owned home qualifies for homestead protection rights.
Keywords: Homestead, Probate Rights, Legal History, Asset Protection
JEL Classification: K11
Suggested Citation: Suggested Citation