MS HB773

Amends Section 27-33-19 of the Mississippi Code to expand the definition of "home" or "homestead" for homestead exemption purposes by adding two new categories: dwellings held in trust (paragraph y) and manufactured or mobile homes occupied in the same location for at least five consecutive years (paragraph z).

Allows homestead exemption for a dwelling and eligible land conveyed to a trustee of a trust established for a beneficiary's benefit, provided the beneficiary would otherwise qualify as head of a family and the trust dissolves upon the beneficiary's death.

Extends homestead exemption eligibility to manufactured or mobile homes that are occupied in the same physical location for at least five consecutive years as the primary residence of a family or person.

Takes effect January 1, 2014.