Legal Question in Real Estate Law in Florida

First the mortgage and he deed are separate issues. The mortgage will have little or no bearing on the homestead exemption. The deed is what is important. If you were to buy the home in yours and your wife's name (on the mortgage) you could issue a deed to your father and brothers as a "life estate" which gives you the ultimate ownership after they have passed away, and still allow your father to claim exemption for tax purposes. This is one way (and probably the least expensive and simplest way) to achieve your goal. A more complicated, but effective way would be to create a series of Trusts that protect the property and your family members from creditors and others.

You should probably spend a little time with an experienced estate planner or asset protection attorney to discuss the possibilities.

The deed and residency will determine whether the homestead exemption applies to the property. Article X, Section 4 of the Florida Constitution details Homestead and Exemptions. You should consult with an attorney for specific legal advice for your situation.

This is tricky, so see a lawyer to make sure. The deed is the issue -- not the mortgage. However, if they are on the deed, you lose control of the house. If you give them the house you will also have gift tax issues to worry about, so be sure to check with a tax professional as well.