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(on Archives.gov) Passed on May 20, 1862, the Homestead Act accelerated the settlement of the western territory by granting adult heads of families 160 acres of surveyed public land for a minimal filing fee and 5 years of continuous residence on that land.
The bankruptcy form instructions include the specific parameters of the homestead exemption in your state. In California, equity up to $75,000 in your home is generally exempt if you are under 65 years of age, $150,000 if you are over that age, according to the California Code of Civil Procedure Section 704.730.