Legal Question in Bankruptcy in Florida

Can I reinvest capital gains from a rental property into my homestead property w

I have a rental property and would like to know if sold and I reinvest that money into my current home will I be penalized for capital gains? and could a creditor come after that money?


Asked on 1/02/04, 5:08 pm

1 Answer from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Can I reinvest capital gains from a rental property into my homestead proper

If you have a taxable gain you are obliged to pay the tax.

If you use the money,after taxes, to build equity in your homesteadand then you file for bankruptcy in Florida, the homestead would be beyond the reach of nearly all creditors

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Answered on 1/03/04, 3:06 am


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