A homestead described in ORS 18.395 consists, when not located in any town or city laid off into blocks and lots, of any quantity of land not exceeding 160 acres, and when located in any such town or city, of any quantity of land not exceeding one block. However, a homestead under this section may not exceed in value the applicable amount specified in ORS 18.395 (1)(a) or (b).
ORS 18.402