homestead

noun | \ ˈhōm-ˌsted, -stid \ | home·stead

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 especially 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