LD Legal made the out of state probate process a breeze. A personal representative can sell the real property at a public or a private sale. 3. With a distinguished pool of legal talent, Gibbons Neuman provides unsurpassed legal service to both institutional and individual clients in Tampa. Mom’s greatest asset is her house, which she owns free and clear (no mortgage). I have and will continue to refer everyone I know to Long. In Florida, a person’s homestead is exempt from forced sale by judgment creditors. He answered my probate questions without rushing and. The Florida Constitution has been interpreted to provide protection not only for the homestead property, but also for both the cash and non-cash proceeds from a sale of homestead property as well. Long has given us the confidence that in the event that something happens to us, everything will be taken care of. Individuals commonly believe that if they own a piece of real property then they can sell it when they want, transfer it to whomever they want, or devise it through their estate planning documents however they choose. my questions, I figured it was time to reach out to an attorney. etc. Therefore, if a will states that homestead property is to be sold, it must be sold by the personal representative, and the proceeds … He explained everything precisely and in language I could understand. Long very clearly explained everything that would need to be. Mr. Long answered all of my questions and put my mind at ease. The Florida homestead is exempt from your creditors during your lifetime by virtue of the homestead provision of the Florida Constitution. He not only worked on my. Further, “only so much of the proceeds of the sale as are intended to be reinvested in another homestead may be exempt.”. At the time of the decedent’s death, the decedent owned an interest in real property that the affiant believes to be homestead property described in s. 4, Article X of the State Constitution, which real property being in County, Florida, and described as: (description of homestead property) . Florida's debtor protection homestead provision is one of the broadest in the United States.The value of the property that can be protected is unlimited, so long as the property occupies no more than one-half acre (2,000 sq m) within a municipality, or 160 acres (650,000 sq m) outside of a municipality. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. The Homestead laws in Florida are cumbersome, complex and difficult to navigate. A homeowner can lose their homestead by failing to pay property taxes, mortgages or repairs or improvements which are properly perfected as a construction lien that is properly foreclosed. I had the pleasure of speaking with Mr. Long on the phone yesterday. with clear answers that I understood. Long has helped us draft and update all of our necessary paperwork to prepare for our living wills, trusts, last wills. I was pleased to connect with him, and would highly recommend him to anyone who want their case to be handled in an incredibly professional, helpful, and personalized way. We were thankful to have hired him to help us through it. Being out of state it was nice to get some reliable information from him about Florida law in a, I live in California and needed probate assistance in Florida. Attorney Advertising. If you bought your Homestead for the price of $100,000 that is your cost basis. Regardless, I would not hesitate to recommend the services of Long and LD Legal to anyone. QOTD: Is Probate in Florida Necessary for Vacant Land? I cannot imagine finding a better person to work with through all of this. If my sister and I won’t consent to sell it, can I sell my interest in it? Do All Heirs Need to Consent to the Sale of the Homestead? It took some additional work on my part and some time to make decisions. Scope of the Debtor Protection. Highly recommend Long and LD Legal. Once you and your sister receive title from the probate court (likely via a “Hometead Determination Order”), it is no longer the probate court’s concern. Proceeds from the Sale of a Florida Homestead. Overview of Florida Homestead Law for Asset Protection. My mom, thankfully still alive at age 85, has informed my sister and I that under the terms of her will, we split everything 50-50. I looked on line and saw Mr. Long's website which I found to be. After searching online, and not finding answers to. He was a big help to us during a difficult time. I felt valued and understood through the process. If you were to sell your Homestead then there will be $400,000 of gain that would be subject to income tax, subject to some exceptions. You have three options for completing and submitting it: Complete the form online and select the state’s e-file option. Likewise, property held in a Florida land trust may qualify as a Florida homestead. This means each tenant has full access to the property even then only own a percentage. Long is an amazing and compassionate attorney who helped me through the probate process after my father died. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. I initially thought that I needed to go through the probate process for my father’s estate. Since real property taxes are paid in arrears in Florida (just like interest on your mortgage), this type of homestead exemption is only … However, the following requirements must be met: (1)        there must be a good faith intention, prior to and at the time of the sale, to reinvest the proceeds in another homestead within a reasonable time; (2)        the funds must not be commingled with other monies; and. Mr. Long's integrity and honesty relieved my very stressful situation and for that I am eternally grateful. 2. I had questions on probate for the state of Florida. I completed the short survey and submitted. Throughout the process, Long was very courteous and professional, and he was always willing to explain or clarify any concerns I had. explain the process to me and was amazingly efficient through the whole procedure. Mr. Long responded immediately and set up a phone call for the same day. If the heirs decide to sell the homestead property we find that title underwriters will not issue title insurance without a Determination of Homestead. I am very pleased with the service they provided and would not hesitate to recommend them to anyone. Homestead Property and the Probate Process. Second, the income taxes from the sale of the house will not be too bad. Selling Your Homestead Property In 2016, the Florida Supreme Court issued a ruling that had a significant impact on the sale of homestead properties. 3. unexpectedly. His final package was very nice, orderly and prepared for easy access by heirs when the day comes. What are the risks of starting probate too soon? Long is an exceptional lawyer. This is a special procedure for homestead property within Formal Administration. Our attorneys are accessible, trustworthy, and highly effective in creating strategies to pursue your legal goals, within your budget. If you are looking for an attorney that is professional, knowledgeable, honest, and easy to communicate with, all for what I consider a very reasonable fee, then I highly recommend Long at LD Legal. Homestead, FL's real-time and most comprehensive local Real Estate news. EMAIL: info[@]gibblaw.com It is difficult for each tenant in common to sell to a 3rd party – buyers usually shy away. Determination of Homestead. Note that the assumptions upon which I have based this response are born from the overwhelming number of “form” Wills and “online” Wills that I’ve seen (yet another reason to consider having an attorney custom prepare your Will!) As an established Tampa, Florida firm, we are proud of our reputation for skilled, cost-effective counsel. This article is intended to give you a general understanding of the basics regarding Florida’s Homestead laws. Otherwise, without the consent of all heirs, there is no specific mechanism in Florida probate law to simply sell an heir’s fractional interest in homestead property. He was incredibly. We highly recommend him. If the Will says I'm the Personal Representative, why do I need probate? PHONE: 813-877-9222 His help has given us peace of mind! (If the Will does specifically instruct the Personal Representative to sell the homestead and split the proceeds, then your question is moot.). He took the time to fully understand my situation, conducted online research while we were on the phone (during free initial consult), and actually told me I did not need to probate he will (very honest). I contacted LD Legal and Long took the time to. Often a Determination of Homestead is required to clear title to the property. I feel fortunate to have found him! While this is legally accurate, if there is no surviving spouse, transfer of the homestead property will require an order from a probate court. estate, and did a wonderfully thorough job, but he also helped me through additional legal issues that were not directly related to my estate planning. He is stellar! He took the time to answer our many questions during a. difficult period. Mr. Duong was very helpful when we needed to access our son's safe deposit box. I would highly recommend Mr. Long. To apply, gather required documents and complete an application at your county appraiser's office. You may hear from time to time that a Homestead is a non-probate asset. In the very recent case of JBK Assocs., Inc. v. Sill Bros., Inc. (which is not yet final until the time expires to file a motion for rehearing, and if filed, until that motion is determined), the Florida Supreme Court ruled that, under proper circumstances, such proceeds are protected. Surviving family members assume that they can freely sell the parents’ homestead once they understand that the homestead is not subject to claims against their parents’ estate, and particularly if the homestead was titled in a living trust. The Will either specifically devises the homestead to you and your sister; OR, 2. Though he was not "hired". 2. During our phone interview Mr. Long answered all my questions and addressed all my concerns. The Florida Probate Code authorizes a personal representative, “acting reasonably for the benefit of the interested persons,” to “sell, mortgage, or lease any personal property of the estate or any interest in it for cash, credit, or for part cash and part credit, and … Legally, in an estate estate, where the property is owned by the decedent alone, the title to the homestead real estate passes to the heirs at law (surviving spouse, children, etc.) He put my mind at ease. But that is not always the case if the owner has a spouse … There is a standard $25,000 exemption plus an additional exemption up to $25,000. I'm glad that I found him. A judgment creditor (such as, for example, a bank that obtains a judgment against the homeowner for not paying a … ©2018 Gibbons | Neuman. Homestead property in Florida is complicated business. If you are looking take your first step when it comes to dealing with the lose of a loved one whom didn't have will Long will put you on stable ground - I 100% recommend him! I would not hesitate to go back to Mr. Long if I need further assistance. assets that we needed a will, but we thought we should meet with an attorney anyway after our son was born. The Will does not specifically instruct the Personal Representative to sell the homestead and distribute the proceeds. When my father died without a will I did not know what to do; I needed some form of summary executorship of my father's. This is why it is important to have a knowledgeable real estate lawyer working for you. This saved us both time and money, since it turns out the box was empty. He was able to explain everyting I needed to do and why in terms I easily understood. Until that point in my life I had never hired a lawyer; I was lost. There are no other heirs. After some searching I was put into contact with Long at LD Legal. All rights reserved. I appreciate him lending his time to me, especially when others wanted to charge a fee. Recently Sold Homes in Homestead, FL have a median listing price of $295,000 and a price per square foot of $168. If you want to sell and she does not want to buy you out, the only option would be to pursue a “partition” action wherein a judge will eventually force you two to sell the property and split the proceeds. A $25,000 exemption applies to the first $50,000 of your Florida homestead property’s assessed value if you own the property on January 1 of the tax year. Luckily for me, I came across Long at LD Legal LLC. Long was engaged, very patient and fair during my decision making process. Long was very helpful. We never thought we had enough. In Florida Probate Question of the Day by LongJune 3, 2010. In choosing an, attorney I came across Mr.Long's website. Not only did he You and your sister will need to probate your mother’s Will to transfer title to the property after her death (unless she transfers the property during her lifetime.). The one exception is when a married owner wants to add his or her spouse to the deed to create a Florida tenancy by the entirety. If you qualify, you can reduce the assessed value of your homestead up to $50,000. I would recommend him to anyone who wants competent legal counsel who takes the time to give you personal service. Very appreciative of advice. He really cares about how your experience is as a client. When someone owns property and makes it his or her permanent residence or the permanent residence of his or her dependent, the property owner may be eligible to receive a homestead exemption up to $50,000. He consistently stayed in contact with me, keeping me informed of what was going on and what I needed to do. If you need an attorney at law in Florida for a matter involving business, real estate, bankruptcy, estate planning, probate or personal injury, our firm offers experienced, high-quality legal services. After a careful review, he made a. number of suggestions for change that I thought were well founded and accepted. I chose him as I immediately felt someone I could trust. The Save Our Homes cap limits increases in the annual assessment of a home to a maximum of 3% regardless of the increase in Market Value. Remember, one size does not fit all. Long was with me every step of the way, willing to answer every question I had in the most efficient and simplest way possible. 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