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Home » Homestead Exemption » Homestead Exemption of Triplex in The County

Homestead Exemption of Triplex in The County

ByGideon Alper August 27, 2015May 22, 2020

One of my clients wanted to protect cash from a judgment creditor by buying a triplex outside of a city and living in one of the units. The question was whether rental of two units in a building located in the county would disqualify all or part of the building from the Florida homestead exemption.

The homestead exemption is liberally applied to combined residential and commercial use outside of a municipality. Debtors who operate a business on their homestead in the county have been afforded homestead protection by most courts. Courts have extended homestead protection to income producing structures located on the homestead when the commercial activity was the debtor’s means of support.

This client’s situation is different because he plans to derive income by permitting other families to reside on the property. The homestead exemption is designed to protect a debtor’s family. So long as the debtor’s commercial activity is operated primarily by the debtor and family and no one other than the debtor’s family resides on the homestead lands most courts will liberally apply the exemption. This client’s land will be used for residence of non-family members, and for that reason, I believe courts will not protect that part of the structure rented to non-family tenants.

I believe the likely result is for the court to order the forced sale of the entire property and grant the debtor an exemption for one-third of the net sales proceeds in proportion to the debtor’s occupancy of one of the three units in the triplex.

Last updated on May 22, 2020

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Gideon Alper

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      • Exemptions
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      • Fraudulent Transfers
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      • How Attorneys Help
      • Strategies
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      • UTMA Accounts
    • Business Planning
      • Business Entities
      • LLCs
      • LLC Operating Agreement
      • Real Estate Investors
    • Offshore Planning
      • Nevis LLC
      • Offshore Bank Accounts
      • Offshore Planning
      • Offshore Trusts
    • Judgment Collection
      • Judgment Collection
      • Bitcoin and Cryptocurrency
      • Deficiency Judgments
      • Fact Information Sheet
      • Head of Household
      • IRS Tax Debt
      • Not Paying Judgments
      • Statute of Limitations
      • Wage Garnishment
      • Writ of Garnishment
    • Wills and Trusts
      • Avoiding Probate
      • Estate Planning
      • Gun Trusts
      • Inheritance Tax
      • Irrevocable Trusts
      • Last Will and Testament
      • Living Trusts
      • Living Will
      • LGBT Estate Planning
      • Power of Attorney
      • Probate
      • Special Needs Trust
      • Trust Administration
    • Bankruptcy
      • Attorney Fees
      • Chapter 7 Bankruptcy
      • Chapter 13 Bankruptcy
      • Dealing With Creditors
      • Involuntary Bankruptcy
      • Moral Issues
      • Orlando Bankruptcy
      • Student Loans
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      • Lady Bird Deed
      • Land Trusts
      • Quit Claim Deed
      • Warranty Deed
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      • Private Adoption
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