Legal Question in Bankruptcy in Florida

I have to file ch 7 bankruptcy in S. Dist Florida. I have a remainder future interest in a home I am living in with my father (who holds the life-estate). I share the future remainder interest with my sister. How do I value it? Also protect it from creditors? My father has Homesteaded it.


Asked on 3/11/12, 8:06 am

1 Answer from Attorneys
R. Jason de Groot R. Jason de Groot, P.A.

This is a complicated mess. You would want to claim the interest you have as a homestead interest. You live there and eventually will need to buy out your sister. The homestead is exempt from the claims of creditors. It is your homestead now although you will not own it until your father's life estate has expired. The trustee in your bankruptcy probably will not make an issue of this circumstance because it is your homestead and will continue to be your homestead.

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Answered on 7/05/12, 7:15 am


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