term:

Homestead

homestead n

1 a : the home and adjoining land with any buildings that is occupied usually by a family as its principal residence
b : an estate created by law in a homestead esp. for the purpose of taking advantage of a homestead exemption
2 : a tract of land acquired from U.S. public lands by filing a record and living on and cultivating the tract

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.