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What is homestead property?

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0 2022-06-22T10:41:48+00:00
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The term homestead can be used in various ways. But in simple terms, the word homestead is known as living a self-sufficient lifestyle. Mostly, when people hear about homestead land they think of owning land where they can construct a building and do small-scale farming to become self-sufficient. Although we can relate homesteading with farms nowadays people are more into urban homesteads where people practice sustainable living techniques, urban agriculture and a frugal lifestyle. Homesteading is the independent lifestyle choice we make rather than deciding to live in a country or city. This is

what is a homestead property.

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Now that we know what is homestead property let us learn about some common activities that occur on homestead land.

  • Generation of sustainable energy

  • Having livestock such as cattle, goats, pigs, cows, bees, etc.

  • Canning and preserving

  • Hunting and fishing

  • Running tractors and other equipment in the field

  • Chopping firewoods

  • Making milk products like cheese and butter

I would like to point out that in the state of the US people who own homestead land get homestead exemption from creditors and taxes. The spouse can also avail of these benefits if the homeowner dies.

In India, the Government is trying to bring some schemes for those who own homestead land, especially people from the Dalit class or lower class society. Although nothing has been confirmed yet. This was all about what is a homestead. I hope you like my answer.

Read more:

What Is A Homestead?

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