Homestead After Divorce
A common asset protection question is what happens to homestead upon divorce. Typically, homestead property is owned jointly by husband and wife as tenants by entireties. Upon divorce, the tenants by entireties is broker and the homestead is owned by husband and wife as tenants in common. After one spouse moves out of the house the question arises as whether either spouse has homestead protection.
The answer probably is that the spouse who finds a new residence no longer has protection of their interest in the homestead against that spouse's individual creditors. The moved spouse can no longer claim the property as primary residence and the divorce has terminated tenants by entireties protection otherwise available for all real estate, homestead or not homestead, owned jointly by married couples. The spouse who remains resident in the homestead still has homestead protection of their 50% interest in the equity. The fact that the property is owned now as tenants in common has no effect on homestead protection. As at least one Florida bankruptcy court has stated, "The homestead exemption provided for under the Florida Constitution makes no distinction between the types of ownership interests in land that qualify for the exemption, and has been interpreted as applying to any interest in land." (emphasis added) In re Ballato.
posted by Jonathan Alper, asset protection and bankruptcy attorney, Orlando, Florida
With regards to divorce and bankruptcy, my soon to be ex-spouse and I are awaiting a court date for our final divorce. It has been over two years. In the meantime we have sold our homestead property and the monies are sitting in escrow waiting final divorce. He has now filed for bankruptcy (before 10/17/05). Can the bankruptcy court go after the monies in escrow, or are they protected under homestead? We have lived in Florida for 15 years.
My friend purchased a home and married 6 months after closing. They are now divorcing and they are selling the home and he is purchasing a condo. She has to sign the mortgage and is concerned what her liabilty is by signing. He wants to know if she is entilted to any proceeds from the sale of the current home since it was purchased prior to the marrige.
I married after knowing a man a very short time. He was in a hurry to purchase a home but said he wrote too much off and we both needed to sign the home loan. I left him 2 and 1/2 months later because he was very unstable. He was a certified CFP, spent money like water and had terrible mood swings. He was supposed to get my name off of the home loan by December as stated in the divorce decree...either sell or re finance. He never did. We filed and motion for enforcement and it seems he filed for bankruptcy last month with about 1/2 mil in debt. What can I do now to get my name off that loan?
My wife and I recently purchased a house in Florida along with her cousin. We are now filing for divorce and I believe that I am entitled to a 1/3 of the house sale.
She was offering me a settlement offer of $15,000 to to leave the house. According to her lawyer in New York, I am being offered $3000 now and then to vacate the house within 14 days of receiving the money. If my name is signed on the deed...Doesnt that mean I have part ownership of the house? How can I be evicted from my won house. Also, she doesnt even live here...She still resides at her old address in New York City. Can someone please tell me if I am entitled to a 1/3 of the house being that my name is signed on the deed along with hers and her cousins. She seems to think that I am entitled to nothing. Thank you Very much
My mother's house is a homestead, the homestead/house is in her name only not her husbands, since it was built in the 1980's.
Her Husband has been threating to take it all away from her unless his name is put on the homestead papers. She is refusing to put his name on it. she fears that he will try to put his name on the papers, he had a realestate license for many years in Florida and knows many people in the system as he says.
Now he has been printing all the documents on her home from myflorida.com site and he threating to do just that, or he says he's going to get a loan in both their names and force her to sign it, once a morgage or equity loan is taken on it his name then can be put on the property.
Is it possible for him to put his name legally on her property or take it away from her, they are married for many years. She has no morgage and owns the house free and clear. I don't know florida laws, but you can apply for a morgage or equity loans on line now. Which is scary.
How can I help my mom protect her home. He had a home in his name only and sold it many years ago. he spends money like water and wants her home to morgage for money.
My mother is bipolar. She only suffered from the depression in the past, but now she is manic. She is ordering things from catalogs that we cannot afford, rearranging cabinets, talking fast, nasty, feels she can live on her own on her $864 per month SSI. I get $1,337 per month on disability and pay the mortgage and alot of the other bills. I am on the deed. Can she evict me in the Hypermanic state she is in, and I am also on the deed like I said. I know this isn't her normally and she is on medication, but it hasn't kicked in yet. I don't know if she is even taking it. She has gotten physical with me twice in 2 days and we've had the cops here 3 times already. They said her Dr. (psychologist) would have to have her Baker Acted. She has to be in the hospital so they watch her take the medicine.
Please let me know if she has a leg to stand on about evicting me. She also couldn't get the mortgage on her own, they had to use my salary at the time to get it.
my wife onws on credit card about $15000.00, plus her car was Reps. total is 10k + insuranc and other things will around 5k , botton line altogether 30k,
but all the debt. was on her name and she got into that while we are married, now we file for divorce in florida, my question is: am i involved on her debt. since she made on her own, for her own stuff, like car, personal belongs, and 8 months of rent while we are separeted (i was paying other rent..my! and we move back in together) am i going to to have to pay for somenthig that wasn't on my name or something i did not sign it or somethig i didn't enjoy it(meaning something like...my rent or my car or eletric bill etc..) , what the law say's about this?