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In this Element of the write-up, Now we have centered on the homestead exemption supplied by the Florida Structure in artwork. X, §four and its legislative implementation by the file.S. Ch. 222. As such, we talked over the plan powering the exemption, the limits on its use, particularly the categories of residences which can qualify as homestead, the size of limitations of the real home on which the homestead is situated, and, finally, the method during which residences have to be owned in an effort to qualify for homestead.
upcoming month, partly II, we will explore further more limitations around the homestead exemption and proposed federal personal bankruptcy legislation that will severely limit homestead defense for all those debtors looking for to maneuver to Florida to stop creditors.
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this is simply not idle speculation as an appellate courtroom has tackled this incredibly problem. The reasoning for This really is talked over down below under assessment of several court docket conclusions. even so Allow’s think about the statute that is becoming enforced just before getting to the court Evaluation. The statute removes the Constitutional appropriate to Florida Homestead exemption for:
"Part of the issue, he mentioned, was that in Florida, developers and farmers are usually one particular in the identical. Dairy homeowners and orange growers normally cash out their functions by turning fields into condos.