Legal Question in Real Estate Law in Florida

Re: real estate deed

The following is not legal advice and does not create an attorney/client relationship.

You need to consult with an attorney and with an accountant to be sure that any decision you make serves both you interests and your wife's interest. You will pay some money, but the small amount you pay for good advice will more than justify the expense. You can only have one homestead, and that should be the property where you reside. You cannot do non-homestead for one purpose then claim homestead for another.

Re: real estate deed

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

The title company is giving you incorrect information. You cannot claim that this property was never your homestead and then turn around and ask for the exemption from the Internal Revenue Service. The chances are good that your exemption request will be denied.

I strongly suggest that you retain a competent real estate attorney to advise you how to handle this situation. The fee you pay will be a worthwhile investment as opposed to faulty advice from a non lawyer at a title company.

Scott R. Jay, Esq.