The Florida homestead law is a constitutional provision that exempts a person’s primary residence from judgment creditors. It is one of the strongest asset protection tools in the country. Florida law allows a judgment debtor to exempt an unlimited amount of equity in homestead property.
Sometimes clients ask me about loan contracts they may have signed many years ago. These contracts often have a section or paragraph that states the borrower waives all of the statutory exemptions, including their homestead…
You can still get the homestead exemption even if your home is owned by your living trust. In Florida, a homestead exemption can offer significant property tax savings and legal protections for a homeowner’s primary…
For most people, the most valuable asset they own is their home. Particularly in the last few years, the rising values of real property have led to homeowners having hundreds of thousands of dollars in…
People facing a civil judgment often try to protect non-exempt cash by investing it in a Florida homestead. Some debtors seek advantage of the unlimited value of Florida’s Constitutional homestead exemption by buying a new,…
The Florida Constitution protects a person’s homestead from forced levy or sale by judgment creditors. The protection applies if the home is occupied by either the judgment debtor or the debtor’s family. In other words,…
What Is the Homestead Exemption in Florida? The homestead exemption allows a Florida resident to reduce property taxes owed on their primary residence. The exemption decreases the property’s taxable value by up to $50,000 for…
Inheritance of a Florida homestead is fast and easy. A Florida homestead is not subject to probate. Probate proceedings involve only assets subject to creditor claims. The Florida homestead is exempt from creditors, so it…
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…
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…
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…
