Will The Court Uphold Your Homestead Exemption?
Florida's constitutionally mandated homestead exemption is the holy grail of exemption planning. Its purpose is to protect the sanctity of the home by providing a shelter for the owner and his family immune from the money judgments of creditors. In other words, the homestead is exempt from forced sale in all but three limited exceptions: (1) taxes; (2) contracts to repair, improve or purchase the property; and (3) obligations owed to those who perform labor on the realty. Naturally, then, the homestead has been the bane of creditors and a source of frustration for the judicial system. Cunning debtors, in [...]