Officials Urge Homeowner Participation in Designation of Homestead Filings
E-Business E-Wire, April 21, 1999
FORT LAUDERDALE--(E-BUSINESS E-WIRE)--April 11, 1999-- Officials in the Revenue Dept. expressed concern today that a vast number of homeowners have not yet responded to the new, easy-to-file Designation of Homestead designed to protect their principal residences and home equity.
"We've attempted to get out the information about the existence of this Act as well as to make known the new law that allows the filing of the Designation of Homestead along with the Homestead Tax Exemption, which creates a tax break for the homeowner," one official was quoted as saying. "The whole idea behind this change was to make it easier to file, and although there are conditions that should be noted, it is still an important breakthrough."
The conditions he was referring to involve the fact that even if a homeowner files the Homestead Tax Exemption, there is still a window of anywhere from 10 months to two years after the tax filing before the Designation of Homestead takes effect even after filing.
This can be of vital importance to a homeowner who anticipates a possible problem with a creditor or has a sudden, unexpected liability thrust upon him or her and wishes to have that home protected immediately. Allowing for the natural sequence of events could mean the difference between a home being protected from creditors or the homeowner losing that home.
One way to protect one's home would be to physically file the Designation of Homestead, which would allow for the protection to take effect immediately instead of waiting for the exemption to take effect on its own.
A problem shared by a large number of Florida homeowners is the fact that in many instances, the time and hassle needed to accomplish this is very difficult. Often, it involves driving many miles to the County Seat. Another concern is that the forms must be filled out correctly in order for the Designation of Homestead to take effect.
One remedy strongly endorsed by the large number of Florida residents who have used it is to take advantage of the services provided by
Florida Homestead Services at 954/252-9111. They will be happy to take care of whatever the homeowner may need to accomplish this instant protection in a minimum amount of time with a minimum amount of hassle.
Florida Homestead Services, a homestead recording service, offers a two-fold service. They will fill out the forms properly and present it to you ready to be filed for a nominal fee. If you would also like to have the Service do the actual filing, the cost would be included in their all inclusive fee. Many homeowners have expressed their gratitude to Florida Homestead Services and their homestead recording service division for offering this service.
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