Sounds like something highly dependent upon a particular state or jurisdiction. Basically it sounds as if the "Castle Doctrine" protection of the home itself has been enlarged to the entire homestead land that the home resides upon.
Even so I would expect certain caveats. Is the stranger trespassing on the property armed for example. Bad news for a lost hunter, perhaps not for a lost hiker.
I can only speak for the laws of Texas, however I do have a concealed carry permit and I have been to the classes to learn about the rules, so I can share what I know...
In Texas, you are allowed to use deadly force for three reasons:
1. To defend yourself against what you perceive to be a deadly threat to your life. If you are in fear for your life, you may shoot someone to stop them from being a threat. This doesn't mean your intent can be to kill them, you NEVER shoot to kill, you only shoot to stop. One the person is on the ground and not a threat, you cannot shoot them again.
2. To defend a third party who has a threat to their life. If you see someone being attacked and you feel their life in danger, you may use deadly force to stop the threat.
3. To defend your uninsured property. For example, if someone were to grab your purse and it had $5,000 in cash in it, that is likely not insured. You can shoot the person to stop them from getting away with your stuff. This has been extended by the courts to include the deductible on some insured property such as cars, but I personally wouldn't chance it. The example held up in concealed carry class was a guy was stealing a tractor trailer rig from a man's home. That is an expensive item and while it is insured, it also has a large deductible and it is the source of this man's living, so he would be without an income without it. The guy picked up his AR-15 rifle and went outside and saw another man inside his truck hotwiring it and starting to drive it away. He shot the thief several times through the front window of the truck and he ended up dying. It was ruled a justified shooting due to him defending his property.
Note that trespassing on LAND is not on that list, that topic has been brought up in class before and the instructors made it pretty clear that someone JUST WALKING ON YOUR LAND is NOT enough of a reason to shoot them. If you are not being directly threatened or they are not actually taking your property, then NO, you cannot shoot them for being on your land.
If they break into your physical home, then yes, the courts have ruled that can be, by itself, taken as a direct threat to your safety and the use of deadly force is normally acceptable. Not all states and countries agree with this, some states actually expect you to retreat from your home if possible, leaving it to the burglar. I think this is nuts, but that is what it is.