Exemption of Homestead Proceeds Invested In A Brokerage Account

Jon Alper Homestead Exemption

The concept of an exempt “homestead account” is a well-settled legal concept in Florida. It holds that proceeds from the sale of a homestead remain exempt after deposit in a bank account for a reasonable time while the owner is searching for a new homestead. Most people concerned with protecting homestead sales proceeds keep the money in a separate bank …

Non-Debtor Spouse’s Independent Right To Assert Homestead Exemption Against Debtor’s Spouse’s Creditors

Jon Alper Homestead Exemption

One of my married clients purchased a Florida homestead in his own name, and then he transferred the house to his LLC. A creditor obtained a judgment against the client, but the creditor did not seek a judgment against the wife. He asked me for my opinion about whether the creditor could levy on his homestead. Homestead exemptions are limited …

Differences Between HOA Liens and Condo Association Liens on Homestead Property

Jon Alper Homestead Exemption

A reader sent me a question about liens on homestead properties in favor of condominium associations compared to liens in favor of homeowner associations in a single family house community. Condo associations and HOAs can place a lien on a homestead for non-payment of dues or unpaid assessments. The reader had read somewhere that these types of liens expire after …

Homestead Account Funds Intended For New Home Improvements

Jon Alper Homestead Exemption

Money from the sale of a Florida homestead is exempt in a bank account if owner is saving the money to buy a replacement homestead. One of my clients wanted to know if money remaining in the account after the purchase of a replacement homestead remains protected if the homeowner is holding the funds to make required improvements to the …

Homestead Benefits Under Condominium Termination Statute

Jon Alper Homestead Exemption

A client wanted to know if his condominium qualified as Florida homestead in an action to terminate a condominium association. Under a  Florida condominium statute an owner who resides in a condo unit as his homestead has rights to increased compensation. My client does not reside in the condo unit, nor does he reside in Florida. The question was whether …

Homestead Exemption of Triplex in The County

Jon Alper Homestead Exemption

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.