Homestead Issues

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16 Terms

1

A Homestead is ___

The primary residence of a natural person, up to ½ acres of contiguous land within a municipality, and up to 160 acres outside a municipality.

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2

Three requirements of a homestead property

  1. Primary Residence

  2. Natural person

  3. Acreage requirements. (1/2 within a city) (160 outside a city)

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3

A homestead must be established ____

before a lien is recorded to be protected from attachment.

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4

Establishment of a homestead

All elements are met, no need to file because it’s automatic.

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5

Abandonment of a homestead

question of fact, but the whole household must leave without intent to return.

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6

3 homestead restrictions/protections

  1. Forced Sale

  2. Conveyance

  3. Devise

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7

Forced Sale

The Florida Constitution exempts homestead property from a forced sale by creditors… except for taxes, mortgages, and mechanics liens. This is because homestead protections inure to the benefit of the surviving spouse and heirs.

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8

Homestead rights are _____ construed to _____.

liberally construed, to protect the family.

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9

Conveyance

one spouse may not convey any interest in a homestead without joinder of the spouse. Transfer is ineffective and void. Any interest, includes mortgages.

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10

Exception to Conveyance

A married owner may convey and individually-owned homestead to themselves and their spouse as a Tenancy by the Entirety without the use of a straw man.

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11

Devise - Testamentary Gift - If the decedent is survived by a spouse or minor child ________.

the homestead is not subject to devise.

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12

Devise - Testamentary Gift - If the decedent is survived by a spouse and no minor children ____.

The homestead may be devised 100% in fee simple to the surviving spouse.

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13

Devise - Testamentary Gift - If the decedent is NOT survived by a spouse or any minor children ____.

May be devised to anyone with no restrictions.

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14

Descent

If the homestead is improperly devised, or NOT devised, it descends in the same manner as other intestate property.

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15

Exceptions to descent - if decedent is survived by a spouse and no descendants _____.

The homestead will descend to the spouse.

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16

Exceptions to descent - if decedent is survived by a spouse and one or more descendants _____.

The spouse gets a life estate and descendants get a vested remained, per stirpes. OR spouse may elect a tenancy in common with the surviving descendants, per stirpes.

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