Legal Question in Real Estate Law in Florida

Re: Realestate homeowners exption and deed

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Maybe. Neither of you can claim both properties as your homestead. By changing your designation with the County, you are leaving a paper trail that the IRS can track to claim fraud.

Before you do something like this, you might wish to step back and consider if this is really worth the possible ramifications. Your actions will be fraudulent to the State of Florida by one of you declaring a home in which you do not live as his or her homestead, and then you will later face the loss of exemption from the IRS on your subsequent sale of the first home.

Scott R. Jay, Esq.