With Florida's homestead exemption, you can protect the entire value of your home if you file for bankruptcy, although there are some limits on total acreage. Homeowners may exempt an unlimited amount of value in their home or other property covered by the homestead exemption. However, the property cannot be larger than half an acre in a municipality or 160 acres elsewhere. In order to qualify as your Florida homestead, you and your home must meet three criteria:
Even under Florida homestead protections, there are four types of creditors who can still force the sale of a homestead to collect debts owed to them:
Because the homestead exemption is a state law subject to the Supremacy Clause of the United States Constitution, federal law can override it. Federal income tax liens are superior to the homestead protection provided by the Florida state law. Generally, however, the Internal Revenue Service is reluctant to foreclose on a taxpayer's home to enforce these liens, and will normally only get involved if the property is sold or mortgaged before the tax lien expires.
Assuming that your property meets all three of the criteria listed above, then in order to understand the laws that govern your Florida homestead, you need to know in what context the homestead is being discussed - in relation to:
Florida homestead laws are complex; if you have minor children or are considering making your second home in Florida your primary one, then you should consult with an experienced attorney to insure that you have looked at all aspects of the Florida homestead laws and planned appropriately.
Under adverse possession, when an individual publicly moves into an otherwise neglected property and improves this property, they can be granted title to it after a period of time. Florida adverse possession laws require claimants to occupy a given property for at least 7 years and either under color of title or payment of property taxes for seven years.
There are normally four major requirements for a valid adverse possession claim:
Additionally, Florida’s adverse possession statute requires cultivation, improvement, or protection from a substantial enclosure on the land.
The terms “real estate”, “realty” and “real property” are generally used interchangeably, although many people associate “real estate” more closely with the structures or buildings and the land. However, real property/real estate encompasses more than just the obviously tangible aspects. It comprises land and that which is attached to or belongs with the land, such as the immovable structures like buildings, houses, trees, bushes and minerals permanently affixed to the land, But it also consists of the interests, benefits and rights that are legally considered attached to the real property, which can include certain rights to the air above the land, to drill in the ground beneath it, rights to live on the property for a specific timeframe or to acquire the real property in the future, and more.
The practice area of real estate and property law deals with a variety of related issues, including the following: rights and interests in real estate and real property; sales, purchases and other transfers of real estate and real property; legal aspects of rental property and landlord issues; tenants’, renters’ and homeowners’ rights; title to real property; settlement of claims against property rights; property development; zoning and land use; related agriculture issues; home loans and foreclosures; and various other relevant topics. This is a complex practice area, further complicated by the significant inconsistency in the laws throughout different cities and states. Knowledgeable Attorney Shanthy Balachanthiran is well versed in many different activities, from the mundane drafting of deeds and filing of liens, to handling boundary and zoning disputes and even assisting families in court when threatened with foreclosure.
If you are experiencing any of the following issues, please call us today at (239) 823-4541 for a complimentary real estate/property law consultation.
Whether you are buying or selling a home, in a real estate law dispute, or contemplating a real estate transaction, it is important to know your rights and have them explained to you by a real estate lawyer. Real estate law encompasses a broad range of issues in relation to property law that you may have never thought about before, such as easement disputes, foreclosures, injuries, property taxes, neighbor relations, property deeds, real estate warranties, different types of mortgages, insurance, landlord/tenant matters, and issues related to buying and selling real estate. For more information and advice on real estate transactions, insurance, disputes and rentals, please call Attorney Shanthy Balachanthiran today at (239) 823-4541 for a complimentary real estate and property law consultation.
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