FL CON LAW Homestead Essay

BIG Ticket Items to look for in a FEDERAL CON Law Essay

1. Equal Protection

2. Due Process

3. Speech

4. Religion

BIG Ticket Items to look for in FL CON Law Essay

1. Homestead

2. FL Legislature is trying to Enanct a law

Significance of Homestead in Florida

The Primary residence is protected by force sale from creditors

Elements to get Homestead Protection

1. Primary Residence

2. Owned by a natural person

3. 1/2 acre of contiguous land inside a municipality

4. Up to 160 acres of contiguous land outside of a municipality

5. Filed with the clerks office

When does homestead need to be filed with the clerks office?

Before any creditor claim

If not, you do not have homestead protection

Super creditors (Homestead Exceptions)

Exceptions to homestead protection, can claim your homestead

1. Mortgages

2. Property Taxes

3. Mechanics liens- any work done on the property itself

Abandonment

1. Leave the homestead

2. Express an intent, not to return

If that happens, you lose homestead protection, and now creditors can come after it.

Devising Homestead

If you're the only owner, then you can devise.

But, you cannot devise your homestead if there is a surviving spouse and a minor child.

- the surviving spouse gets a life estate

- and the minor child gets a remainder

Ad Valorem Taxes

Property Taxes an taxes on your tangible personal property

Every year you own your house, you owe advalorem taxes to the govt

To whom do you pay your property taxes?

To the local county govt., you do not pay it to the state

State Income tax

There is no state income tax in Florida, we only pay federal income taxes.

Homestead Exemption from Property Taxes

Generally you are taxed based on the value of the home.

But with homestead exemption, there are two $25,000 exemptions off the property value for the homestead exemption.

400,000 -> 350,000

Mileage rate

The formula used to determine how much property tax you're going to pay.

The Milieage rate has to be uniform.

Portability

When a Florida resident sells one homestead and you move to another homestead, you have to refile

But you can devise take your property tax value from one residence to another

So you dont get taxed out of your house.

Government owned Property

Is exempt from all property taxes

But, if the property is used by a private person for profit making purposes, then that portion will be taxed ad valorem tax.

Homestead and Tenancy by the entireties

These are 2 separate issues, so address them in separate paragraphs.