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How much time to protect homesteaded sale to build new house

Author Ruth
Participant 

#1 - Posted: 8 May 2015 12:23 
I have a civil lawsuit pending. Just received the papers. I know my current property is protected under homestead statutes. I would like to sell my homesteaded property and use the funds to build a new house on a lot with the proceeds from the sale. Is there a way to go about this? Do I have a certain amount of time between the sale of my house and building a new house that would be my homestead where the money to build it would be protected? Any help is appreciated.

Author johnbsims3
Admin 

#2 - Posted: 8 May 2015 13:17 
Ruth, the Florida law states 180 days for the equity in a sale or refinance to be protected. However, if you can convert the sale proceeds to an exempt asset, that will help tremendously.

Florida Exemptions, Laws and Statutes Florida Homestead Services -- Florida Homestead Exemption Act MiniBB / Florida Exemptions, Laws and Statutes /
How much time to protect homesteaded sale to build new house
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