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English definition of “homestead”

homestead

noun [C]     /ˈhəʊmsted/ US
LAW, PROPERTY property that is your permanent home and not a second home or property that you rent to someone else: In some states your homestead can't be touched by creditors - no matter when it was purchased.
PROPERTY a house and the surrounding area of land, usually used as a farm: Developers are on the verge of taking over the family homestead.
(Definition of homestead noun from the Cambridge Business English Dictionary © Cambridge University Press)
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