Homestead Protection For Commercial Property With Upstairs Apartment
The Florida constitution exempts a person’s primary residence from forced sale to satisfy a judgment debt.
Can you exempt as homestead a commercial building with a second-floor apartment used as your primary residence?
Under Florida law, the answer is that you can only exempt part of the commercial property.
When a debtor resides in a building used for residential and commercial purposes, the creditor can force the sale of the entire property. The court must apportion the net proceeds between the homestead and non-homestead portion rather than declare the building to be entirely homestead or entirely non-homestead.
About the Author
Jon Alper is a nationally recognized authority on offshore trusts and asset protection. With more than fifty years of legal experience, he concentrates on structuring Cook Islands trusts, Nevis LLCs, and Florida-based protection strategies.
A Harvard University master’s graduate and an honors alumnus of the University of Florida College of Law, Jon has advised thousands of physicians, business owners, and families on safeguarding wealth. He is known for developing legal structures that are practical, cost-effective, and effective in high-stakes litigation environments.
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