NEWS PRESS RELEASE ARTICLE:
OBTAINING A LEGAL STATUS OF HOMESTEAD
& PROTECT YOUR RESIDENTIAL HOME FROM CREDITORS
www.homesteadservicesflorida.com
NOTICE TO ALL FLORIDA RESIDENTIAL HOMEOWNERS (Part I)
By Homestead Services of Florida ©
The biggest Myth by the majority of Florida Homeowners is the false and incorrect assumption that that Homestead Exemption completely protects their residential homestead property - It Does Not!
“But I receive my Homestead Exemption every year? Yes, this maybe true BUT this does NOT completely protect your Homestead property nor does it proclaim your home as your Homestead property!
Florida Homestead Exemption has two primary purposes:
1)Provides a $25,000 annual tax exemption from Florida’s Ad Valorem (Real Estate) taxes, based on the assessed (not appraised) value of a Florida Resident’s home (the home which they actually reside and dwell in).
2)Prevents a “forced” sale for a non-equity lienor. In other words, forcing you to sell your residential home to pay a judgment, lien, debt, or encumbrance.
An equity lien is a lien that has an “equity-interest”
1) Mortgage Company or Bank – entity that holds the note or mortgage on your home
2)Real Estate taxes – Annual property taxes
3)Assessment or maintenance fees – normally associated with condos, villas and deeded communities
4)Construction or mechanic liens – for labor contracted that has increased the value of the property
An “equity” lien does have the right to foreclose on the homestead property regardless.
A “non-equity”
The Florida Homestead Exemption does NOT give a Florida Homeowner is legal status of homestead. This is a self-executing act which would legally “set apart” the homestead property from creditor of a non-equity nature.
Never, Never, Never buy a “Cookie Cutter” generic form over the internet unless you thoroughly understand your state's the Homestead laws (and its limitations)
This type of purchase is highly ill-advised and probably one of the worse forms of asset protection that a Florida Homeowner can possibly do. “It really irritates me that currently a few companies are merely selling a “one-form fits all” document without providing any service or education to the general public.
Clients want to know what they are purchasing and try to understand the basic “Do’s & Dont’s” to better educated themselves. These companies are providing a dis-service to the public. Furthermore, these companies have no professional education, knowledge, or prior experience but they are just in it to make a buck” says the owner of Homestead Services of FL
Reason: Buying a cheap and very in-expensive Homestead form from the internet (normal cost: $25-50), instead of purchasing a valuable service that you may require in the future is very poor, cheap and lazy method of asset protection and deficiently executed estate planning. Unless you have in-depth knowledge of Homestead laws of your state, it limits and benefits.
This is very similar to purchasing these genetic forms that you at an office supply retail store, say for, do-it-yourself-
Your residential Home is your greatest financial asset that you & your family own – Never, ever look for a “cheap” or inexpensive way in protecting you & your family's home against a high dollar financial offset such as a judgment, lien or encumbrance that can be attached against your home and remain attached (known as a “clouded Title”) between 14 – 20 years depending on when it was filed.
Remember, the old wise saying, “You get what you pay for!” There is much truth and wisdom in this wise saying.
Unfortunately most of us would agree that our legal system has run amuck and is out of control. With over 19,000,000 lawsuits filed annually, generating over $135,000,000,000 billion dollars in court costs and legal fees, against individuals and companies while these numbers have consistently increased from year to year.
Most consumers today feel like we are living in a “Sue-Crazy”
It is imperative that individuals and business owners protect themselves and their assets against this realistic possibility.
Homestead Services of Florida, our staff has over 23+ years of specialized experience in the Real Estate, Banking, Investment, Insurance, and legal research with a team of independent, experienced legal researchers. They also specialize in Consumer and Corporate Asset Protection, Asset Conservation, Estate Planning.
ALL HOMESTEAD LAWS FOR EACH STATE IS POSTED ON THE WEBSITE.
To find out more about this important subject and to obtain the protection on your residential home go to www.homesteadservicesflorida.com
