Real estate laws can be extremely complex and vary from state to state. In Florida, there are some things that make the state’s real estate law’s unique.
Here are the most important things that you should know about real estate law in Florida:
Florida Homestead Exemptions
When it comes to homestead exemptions, Florida is one of the more favorable states to homebuyers. Homestead laws around the country safeguard people from losing their homes by allowing homebuyers to keep a portion of their homes protected. In Florida, there is no limit to what portion of the home can be protected and therefore, the entire property can be restricted from creditors even after filing for bankruptcy in Florida.
It is important to note that the Florida homestead laws do not protect against the following:
- General contractors and home developers.
- Property liens established before the homestead.
- All counties and municipalities in the State of Florida
Claiming A Property Through Adverse Possession
In Florida, adverse possession is a law that states that an individual can be granted the title of a neglected or dilapidated property if he/she:
- Lives on the property for at least 7 years.
- Pays the property taxes on the property for those 7 years
- Significantly improves the property from an otherwise neglected, or dilapidated state.
There are several requirements for those looking to claim a property through adverse possession in Florida.
Whether you are looking to claim a property or defend yourself from adverse possession, contact our Miami real estate attorneys for a legal consultation.