Homestead Exemption - Does not protect your home like you think!
Darren Michaels - Senior Legal Researcher
protection laws in the country but very few homeowners truly
understands its contents and its benefits.
18 states have homestead laws but Florida has the most protection,
then followed by Texas, etc. - Do you have a legal status of
homestead? Bet you don't!
Most Residential Homeowners do not realize that they DO NOT have a
legal status of Homestead but rather a false presumption in thinking
their residential property is legally homesteaded - IT DOES NOT!
Example: let's use Florida
The Florida Homestead Exemption form is primarily for tax purposes (ad
valorem) and is filed with the Florida Dept of Revenue and not a part
of a Florida homeowner's public records.
Florida Homestead Exemption provides a $25k discount off the ad
valorem taxes based on the assessed (not appraised) value of the home
which is pursuant to "Save Our Homes" Act.
The majority of all Florida homeowners have NOT officially proclaimed
their Florida home as homestead. "But I filed and qualify for
Homestead Exemption each year" - The paramount question is - Does the
protect your home? Answer: NO!
Fact: Homestead Exemption does not officially proclaim your home as
homestead.
Homestead Exemption has two main functions:
1) $25,000 annual exemption discounted off their real taxes based on
the accessed value and not to increase more than 3% per annum (Save
our Homes Legislation)
2) Prevents a "forced" sales from a "non-equity" lienor from forcing
you to sell your home to pay a debt, lien, levy, judgment or
encumbrances BUT IT DOES NOT PREVENT A
"NON-EQUITY" LIEN FROM ATTACHING A LIEN AGAINST YOUR HOMESTEAD
PROPERTY...... not until you have acquired a legal status of homestead
which is a completely different Statutory and Separate Filing than
Homestead Exemption!
Once you have a legal homestead status then NO "non-equity" liens,
judgments, levies, encumbrances can be applied against your homestead
property. Only when a lienor has an "equity-interest" in your
homestead property can they make any claim against it pursuant to the
Florida Constitution (art x, 4(a)) which only list four (4) equity
lienors:
1. Bank or mortgage company - who holds the note on your home
2. Real Estate (ad valorem) taxes - apply to U.S. citizens and
Aliens
3. Assessment or maintenance fees - condo, villa or deeded
communities
4. Construction or Mechanic liens - party that has labored on the
realty
So then what is a "non-equity" lien?
It can be judgments, liens, credit card debt, medical bills, child
support, charge-offs, repossessions, etc.
What is an "equity lien"?
As clearly defined in the Florida Constitution art. x, sec 4(a) - it
is those 4 liens listed above. Everything else is
***Florida Homestead Exemption of $25k applies only to U.S. citizens
and Aliens (but does not apply to state Citizens, Native Americans,
Indians (U.S. Const art. 6).
P.S.
THERE ARE SEVERAL IDIOTS ON THE INTERNET THAT ARE SIMPLY SELLING A
HOMESTEAD FORM AS A "SILVER BULLET" OR "QUICK FIX". NEVER, EVER JUST
BUY A FORM UNLESS YOU HAVE THE FULL UNDERSTANDING AND KNOWLEDGE IN
KNOWING EXACTLY WHAT THAT FORM DOES !!!
I HAVE FIRST HAND KNOWLEDGE OF THIS, SPECIFICALLY AGAINST THE FL DEPT
OF REVENUE THAT I DEFEATED IN COURT YET THEY STILL TRIED TO APPLY A
LIEN AGAINST MY HOME EVEN AFTER ALL FORMS WERE FILED AND SERVED TO
THEM - THERE IS ANOTHER NAME FOR IT - F.R.A.U.D.
Don't be a lamb led to the slaughter - know who you are and remember
the power always lies with "The People" and not with the legislators,
officials, judges or attorneys.
Homestead Services & Credit Restoration
(941)822-(HOME) 4663
http://www.homesteadservicesflorida.com - website
in...@homesteadservicesflorida.com - email
Homestead Services and Credit Restoration, D.B.A. (c) 2007 - all rights
reserved