The State of Florida is considered a debtor friendly state primarily due to the laws protecting one’s homestead from the reach of judgment creditors. Your “homestead” is the property that you reside in as your primary residence on a permanent basis. For most, its simply their home. Indicia of one’s home being their homestead includes what percentage of time is spent living at that property, where you receive your mail, where you work, what your drivers license reflects as your address as well as your income tax return. Filing for the property tax homestead exemption with the property appraiser’s office is also a factor but not conclusive. A monetary judgment lien cannot attach to your homestead nor can your homestead be forcibly sold. Many exceptions to this rule apply including a party foreclosing on a mortgage, contractors’ rights, child support judgments, homeowners associations, money judgments involving certain types of claims of fraud and IRS Tax Liens. Homestead properties within a municipality in excess of one-half acre also are not fully afforded the homestead protection set forth in Florida’s constitution. The many nuances of Florida’s homestead laws require a seasoned real estate attorney’s advice and guidance.
Leave a Reply