Talk:Homestead exemption
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Merged in info from Homestead (law) article written by Rj. -- BD2412 talk July 9, 2005 16:30 (UTC)
In Florida a tv attorney says even the sales procedes from a homestead are exempt if the procededs are used to by another house. Is this correct?
- In Florida, this is correct but only for purchase of another Florida homestead property, and for a limited time. If you don't sink the proceeds into a new homestead within a 'reasonable' time, the proceeds lose homestead exemption status. I don't know what the law might be in any other states. bd2412 T 18:54, 15 December 2006 (UTC)
[edit] Regarding Texas claim
I'm pretty sure that Texas requires an application for a homestead exemption (see FAQ[1] and sample application[2]). Whether or not the application process is simply a formality--who knows? Ufwuct 03:54, 7 July 2006 (UTC)
[edit] How to apply for exemption
I live in Arizona and after learning about this Homestead exemption and also for the fact that Americans love to sue, I like to know how to apply in Arizona. Please advise.
Thanks.
So ummm, if a lien is created it becomes payable upon sale of the property, the death of the owner, or? ... accrueing(sp?) interest all the while?
