Florida Homestead Protection Against Partition Sales

Jon Alper Homestead Exemption

The Florida homestead exemption does not protect homeowners against all forced sales of their property. Consider one of my client’s situation where my client resided in a home that he owned jointly with a friend. The friend did not live in the house. The friend decided he wanted to sell the house and reap profits from the house appreciation. My …

Living Trust Homestead Exemption

Gideon Alper Estate Planning, Homestead Exemption

When I am preparing a living trust for estate planning clients I am often asked to advise whether or not it is wise to title homestead properties in the name of the living trust. Trustmaker clients are concerned that conveying their homestead to their living trust may forfeit their Constitutional homestead exemption from creditor judgments. The Florida homestead exemption applies …

Florida Homestead Protection After Death

Gideon Alper Homestead Exemption

The Florida homestead is exempt from your creditors during your lifetime by virtue of the homestead provision of the Florida Constitution. But, what happens after you die? Can your creditors put a lien on your homestead once you are no longer living in the house after your death? One of my clients expressed concern that their parent’s creditors would find …

Revocable Living Trust and Florida Homestead Exemption

Gideon Alper Homestead Exemption

Yesterday a client wanted to know whether he would still qualify for the homestead exemption if his home was in a revocable living trust. As part of his overall estate plan, we decided to set up a living trust to protect certain assets from the creditors of his adult children. Once the trust was established, we advised that he deed …

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 …