Legal Question in Bankruptcy in Florida
Homestead protection in Bankruptcy
I am a retiree and am considering declaring bankruptcy because of various financial difficulties. However, I own a home and do not want to lose it. I have a mortgage on it for about $360,000 and it is now worth about $500,000. Will my creditors be able to force me from the house? Will my heirs lose out on the equity in the property when I die? Also, I have money in annuities that I hope to live on. Will my creditors be able to get at it? Will my heirs lose out? Thanks.
Asked on 2/29/04, 5:50 pm
1 Answer from Attorneys
Alexander M. Rosenfeld
Rosenfeld & Stein, P.A.
Re: Homestead protection in Bankruptcy
It seems your property is exempt and beyond the reach of creditors. You should consult with competent bankruptcy counsel. Call.
Answered on 3/02/04, 8:54 am
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