The sale was one that fell within the scope of the California Home Equity Sales Contract Act which, among a slew of other things, requires that a representative acting as intermediary on behalf of a foreclosure investor be bonded for an amount equal to twice the fair market value of the property being sold. The trial court agreed with the.
State law allows Florida homeowners to claim up to a $50,000 Homestead Exemption on their primary residence. The first $25,000 of this exemption applies to all taxing authorities. The second $25,000 excludes School Board taxes and applies to properties with assessed values greater than $50,000.
A homestead exemption protects the value of a home from property taxes and. following the death of a homeowner spouse or the declaration of bankruptcy.. financial protection, which can block the forced sale of a primary residence.. A few states, including Florida and Texas, afford unlimited financial.
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Florida Supreme Court Rules Homestead Cannot Be Waived Palm Beach County Bar Association Bulletin, March 2008. The Florida Supreme Court recently ruled, consistent with its longstanding precedent, that a waiver of the homestead exemption in an unsecured agreement is unenforceable.
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What Is Waiving Homestead Rights?. The homestead rights protect a homeowner from the seizure or forced sale of his home to pay debts, states US Legal.. homeowners associations require property owners to agree that the association’s lien on a property is superior to the homestead exemption.
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In fact, fla.stat. 196.031 prohibits anyone who receives the benefit of a residency-based property tax exemption or tax credit in another state from also receiving a Florida homestead exemption. Thus, not only can you not claim two florida homestead exemptions, but you also cannot claim an additional residency-based exemption in another state.