Legal Question in Real Estate Law in Florida

Re: judgment lien on homestead property & sale closing

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Before proceeding with the Declaration, has your attorney determined that the judgment is still valid? Can it be settled in a timely manner for less than the cost of the filing of the Declaration? I often find either of these to be areas that are neglected by attorneys who are not truly comfortable with the closing and negotiation process.

Second, I do not understand why your closing attorney cannot handle this matter unless he simply does not know the procedures. It is a relatively straight forward action to determine that the property is your homestead.

If the closing agent is willing to close with enough monies to satisfy the judgment in escrow while the Declaration is filed, then you are best served. The proceeds of the sale can be held by your attorney in escrow so as to preserve your homestead status. This would not be a conflict of interest. The attorney's fees and costs can be deducted from your closing proceeds if the attorney agrees.

I am located in Miami-Dade County. Please feel free to contact my office if I may be of service to you.

Scott R. Jay, Esq.

Re: judgment lien on homestead property & sale closing

I am familiar with the procedure to declare this property your homestead and it is also necessary that you specifically set up a homestead account to receive the net proceeds of the sale of your homestead. If the title company will escrow the funds necessary to satisfy the judgment than you can retrieve them after the lien holder's time to challenge the homestead claim has been exhausted. In this situation you could retain my law firm to assist you in the closing transaction involving the setting up of the homestead account and the process to notify the lien holder so that eventually your homestead proceeds would be payable to you. My attorney fees can be deducted from the closing proceeds without losing the exemption. If you would like to retain my law firm please send me an email immediately or call my office on Monday, April 9th, as it seems like time is of the essence.