Sec. 1. 14 MRSA §4422, sub-§1, ¶D is enacted to read:

D.__This subsection does not limit the exemption afforded to homestead estates that are registered under Title 33, chapter 14.

Sec. 2. 14 MRSA §4562 is enacted to read:

§4562.__Homesteads

Exemptions for registered homestead estates are governed by Title 33, chapter 14.

Sec. 3. 33 MRSA c. 14 is enacted to read:

CHAPTER 14

HOMESTEAD ESTATES

§821.__Right to acquire

A homestead estate may be acquired by a person who owns a home, including real property and buildings, as long as the person occupies or intends to occupy the home as a principal residence.__The owner of the home may be a sole owner, a joint tenant, a tenant by the entirety or a tenant in common.

§822.__Homestead exemption

1.__General.__Up to $100,000 of a homestead estate's value is exempt from the laws of conveyance, descent, devise, attachment, levy on execution and sale for the payment of debts and legacies.

2.__Elderly or disabled persons.__If the holder of a homestead estate is disabled or at least 62__years of age, up to $200,000 of the homestead estate's value is exempt from the laws of conveyance, descent, devise, attachment, levy on execution and sale for the payment of debts and legacies.

A.__For the purposes of this chapter, "disabled person" means a person who has a permanent physical or mental impairment that meets the disability requirements for supplemental security income under 42 United States Code, Section 1382c(a)(3).__An original or certified copy of a disability award letter issued to the person by the United States Social Security Administration or a letter signed by a licensed physician, certifying that the person meets the