In Florida, property ownership comes with many benefits, but it is an expensive endeavor that deserves as many protections as possible. Fortunately, the Florida legislature has acknowledged the importance of safeguarding your investment in your primary home. Under Article X, Section 4 of the Florida Constitution, the Florida legislature has ensured protections for Floridian homes in the form of homestead exemptions.
This article will explore the requirements necessary to establish a homestead and the protections it provides for your primary home. Seeking guidance from a Florida real estate attorney is advisable for establishing or determining the applicability of homestead to your property.
What is necessary to protect your house under Florida homestead protection from creditors?
To establish homestead protections for your primary residence, you have to:
- Be a natural person
- Be a permanent and legal resident of Florida
- Own the property
- Comply with size and contiguity requirements.
Natural Person
It may sound strange, but to qualify for homestead protection in Florida, the property owner must be an individual. Property ownership can take various forms, such as through a company or trust. However, if you want homestead protection, it’s usually necessary to own the home under your name (certain exceptions may apply, and a home in a trust may be able to avail itself of the homestead protection).
Consulting a Florida real estate attorney can help you determine the best ownership type for you.
Resident
To qualify for homestead protections in Florida, you need to be a resident. This means showing that your property is your or your family’s permanent residence. Even if you’re not always at home, you can still claim the homestead exemption if it’s your primary residence. It’s advisable to consult a Florida real estate attorney to ensure you meet this requirement.
Owner
While this requirement for homestead protection may seem straightforward, it’s important to discuss the details with a Florida real estate attorney. For instance, being married to the property owner doesn’t automatically grant both spouses homestead protection. To qualify, there must be a possessory interest in the claimed property. Also, there are different types of ways to own your home. For instance, one may have a life estate or be a common tenant in a home. It’s advisable to consult your Florida attorney to ensure that your property ownership maximizes your legal protections.
Size & Contiguity.
The size and contiguity requirements depend on whether your home is in a municipality or outside of one. If your property is within a municipality, the exemption applies to the first 1/2 acre. If it’s outside a municipality, the exemption covers the first 160 acres. However, even if your property is larger than these limits, you can still receive homestead protection, but only a portion of it would be exempt. It’s also important for the exempted portion to be connected to the rest of your property (contiguity requirement). You will be able to determine whether your property qualifies in size for a homestead exemption with the help of a Florida real estate attorney.
Why is this a Double-Edged Sword?
Homestead exemptions offer protection for your home from creditors, but there are important aspects to consider:
- One Property: You can only have homestead protection on your primary residence, which means protection is limited to one property in the state of Florida.
- Protection Limitations: Homestead protection doesn’t shield your home from being sold in certain cases, including, but not limited to:
- Mortgage: If there is a mortgage on the property.
- Property Taxes: If there are outstanding taxes owed on the property.
- Mechanics Liens: If there are liens related to work performed on your property.
- Establishing a homestead: You must take the necessary steps to establish your home as your homestead. Your Florida real estate attorney can provide guidance on this matter.
Remember, homestead protection safeguards your home under specific circumstances, but it’s essential to understand the limitations and consult with an attorney to establish and maintain your primary residence as your homestead.
If you have questions or concerns about homestead exemptions, real property law, or other Florida legal services, please contact Apfelbaum Law for a consultation. We can be reached at 772-236-4009, or contactus@alawfl.com.
