florida homestead
OVERVIEW
Florida’s homestead laws are unique and complex. When an individual is domiciled in Florida and owns the principal residence in which he or she (or certain members of his or her family) resides, that property is the owner’s “homestead” and is subject to often-surprising homestead laws.
Florida homestead laws include a real property tax exemption (and limitations on the annual increase in the taxable value of the home), protections against forced sale for the payment of creditors, and significant restrictions on the transfer of the home if the owner is married or has minor children.
The homestead devise restrictions are often unknown to the average citizen and to most non-Florida advisors, and an attempt to comply with these laws without Florida counsel may inadvertently and drastically alter the intended passage of wealth.
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