The Collaborative International Dictionary of English v.0.48:

Homestead \Home"stead\, n. [AS. h[=a]mstede.]
   1. The home place; a home and the inclosure or ground
      immediately connected with it. --Dryden.
      [1913 Webster]

   2. The home or seat of a family; place of origin.
      [1913 Webster]

            We can trace them back to a homestead on the Rivers
            Volga and Ural.                       --W. Tooke.
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   3. (Law) The home and appurtenant land and buildings owned by
      the head of a family, and occupied by him and his family.
      [1913 Webster]

   Homestead law.
      (a) A law conferring special privileges or exemptions upon
          owners of homesteads; esp., a law exempting a
          homestead from attachment or sale under execution for
          general debts. Such laws, with limitations as to the
          extent or value of the property, exist in most of the
          States. Called also homestead exemption law.
      (b) Also, a designation of an Act of Congress authorizing
          and regulating the sale of public lands, in parcels of
          160 acres each, to actual settlers. [U.S.]
          [1913 Webster]