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You have a home in FL and one in MI -- can you homestead both homes since the one in FL is for sale?
In Florida, you can only homestead one property at a time to qualify for the homestead exemption, which provides tax benefits and protections. If your Florida home is for sale, you can still claim the homestead exemption on it until the sale is completed, but you cannot claim it on both homes simultaneously. Once the Florida home is sold, you would need to establish residency and apply for a homestead exemption on the Michigan home if you choose to make it your primary residence.
What else can I help you with?
You had two parcels of land with a home on each one one was homesteaded for taxes and you were told that since they were next to each other they both were covered under homestead and could not be seis?
Generally, homestead exemption applies to your primary residence. You need to check the laws in your particular state.
Can someone explain to you what homestead means?
Homestead is a group of buildings or a group of homes situated on a plot of land. A homestead may also be an individual home and it's property where someone lives. Homestead is where an individual/individuals or a community reside.
Is your Florida home with homestead protected against a judgment?
Is your florida home with homestead protected against a judgement
If a person owns 2 homes and 1 home is in the process of foreclosure can both homes be legally taken away?
It depend. Legally one home will be taken awey. Both can be taken if you are not living in neither home.
Can you homestead a mobile home?
Please explain what 'to homestead' means in a legal sense.
Can you use the homestead act on your current home?
don't know what you mean by homestead act. In Florida you can use homestead exemption.
Can you own a home in one state with replacement insurance coverage and have the same coverage on a home in another state?
You should have replacement coverage on both homes not the same coverage on both homes with the RC generated from only one home.
What percent of homes have home alarm systems installed?
Unfortunately, this is impossible to answer since there is no way to keep track of which homes have alarms.
TN homestead exemption?
The TN homestead exemption stand for the Tennessee homestead exemption. The Tennessee homestead exemption protects some of the home equity when bankruptcy is being filed.
Can you qualify for a homestead exemption if you have refinanced your home?
Yes but the mortgage will not be affected by the homestead. Modern mortgages contain a clause that waives homestead protection.
Where can one find California Homestead online?
There is an online website called SFGate where one can find a home guide to declaring a California homestead on a home one owns. To declare a California Homestead ones home must be their primary residence.
Is homestead exemption important if your home is paid off?
If your home is paid off that is the best reason to record a homestead exemption since you own all the equity in your home. Creditors often will leave a home alone if it is encumbered by mortgages. However, a property not encumbered by a mortgage would be very vulnerable to creditors. Consider unexpected creditors such as those resulting from a car accident.
