Everything about Slide Cash Loophole
Everything about Slide Cash Loophole
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32 equally, homestead status just isn't shed every time a debtor leaves the home without intention of returning but has a superb religion intent to reinvest the proceeds of a potential sale of the home in a fresh homestead.33 on the other hand, in Dep’t of profits ex rel. Vickers v. Pelsey, 779 So. 2nd 629 (Fla. 1st DCA 2001), cash that a debtor been given from a commercial lender and which ended up intended to be utilised to obtain homestead weren't secured beneath the homestead exemption. The court docket observed that no sale of a homestead was involved and, even further, the residence mortgaged to protected the mortgage was also not homestead.34
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(a) There shall be exempt from forced sale underneath process of any courtroom, and no judgment, decree or execution shall be a lien thereon, apart from the payment of taxes and assessments thereon, obligations contracted for the acquisition, enhancement or restore thereof, or obligations contracted for dwelling, discipline or other labor executed around the realty, the following home owned by a pure human being:
following month, in Part II, We're going to focus on even further constraints to the homestead exemption and proposed federal individual bankruptcy legislation that would seriously Restrict homestead protection for those debtors trying to get to move to Florida to stay away from creditors.
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