The homestead declaration is a form that is filed with the Register of Deeds declaring that your primary residence is exempt from execution as to judgment creditors with certain exceptions for taxes, debt incurred to acquire the property and debts acquired prior to acquisition of the homestead up to $100,000 in equity for individuals under age 62 and $200,000 for individuals over age 62 or disabled. Disability is defined according to the supplemental security income rules.