Homestead Exemption

Federal Agency Pierces Florida Homestead Exemption

Florida’s constitutional homestead protection is considered one of the best asset protection tools because of its unlimited exemption of homestead value from forced sale. Additionally, all real estate, including the homestead, can have additional protection from the creditors of either spouse if the home is owned by both spouses jointly…

Can Russian Oligarchs Protect Florida Homes from Federal Seizure by Using Homestead Law?

Many Russian oligarchs own homes in Florida. Even Vladimir Putin himself this week called out Russians “who have a villa in Miami or the French Riviera.” A reporter called me this week and asked if Florida’s constitutional homestead protection could allow Russian oligarchs who own property in Florida to evade…

Can You Still Claim Homestead in Florida If You Temporarily Rent Out Property?

A recent client wanted to know if he would lose his homestead protection by temporarily renting out his homestead property to a tenant. In Florida, a judgment debtor’s homestead is absolutely protected from creditors. There is no monetary cap on the amount of the protected homestead, however the protection is…

Can Non-Citizen Foreigner Qualify for Florida Homestead Protection?

A recent Florida bankruptcy case, In re De Bauer, examined when a non-citizen, or foreigner, could qualify for the Florida homestead protection. The Florida homestead is one of the most powerful asset protection tools for judgment debtors. The Florida constitution exempts an unlimited amount of equity in a debtor’s homestead,…

How to Protect Proceeds of Homestead Sale in Florida

Florida’s homestead exemption has been interpreted to provide protection not only for the physical homestead property, but also for both the cash and non-cash proceeds from a voluntary sale of the homestead as well. A financial account comprised of homestead sale proceed has often been described as a “homestead account.”…

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Florida Homestead Exemption Not Affected By Commercial Operation on Land

Technology has made it easier for people to operate a business at or next to their primary residence. Operating a commercial venture on the property where you reside raises issues about Florida’s homestead exemption from creditors. The issue is whether a Florida resident can operate a commercial business on his…

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Is a Green Card Required For Florida Domicile and Exemptions?

Debtors can claim Florida’s asset exemptions only if they are domiciled in Florida. People sometimes confuse the term “domicile” with the term “residence.” A person is a resident of any place where he resides and keeps property. A person may be a resident of more than one state; some people…