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Post by BagLady on Apr 11, 2014 15:21:04 GMT -5
I heard from someone who said they were asked about the Homestead Exemption. If you have a homestead exemption, you do not need to re-encumber your parcel if a revitalization of the Covenants passes the 50% membership vote.
Here is the attorney/client question:
Here is the law that relates to the above:
The relevant revitalization statute is the second half of Florida Statutes
The homestead properties whose covenants have already expired have established homestead that pre-dates the effective date of the recorded revitalized covenants. What that means is that if you have a property that has extinguished covenants and you live or have an intent to live on that property, revitalization will never enable the HOA to lawfully impose its use restrictions or foreclose on your home as long as you live there.
The current count is that 172 parcels in SLR are homesteaded according to the tax rolls. Homestead does not mean just "application for tax exemption", it is also a bunch of conditions that must be met to prove that a property is being used as your primary homestead. Adding the layer of a documented tax exemption to your declaration of homestead, if possible, could be helpful in establishing the existence of a true homestead to support an opt out position when and if it comes time to revitalize.
As Frd O'N eal states "The message here is to declare your parcel a homestead now, if that is feasible, to avoid having Covenants reimposed at some time in the future should SLohA revitalize CC&R's."
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Post by Admin on Apr 24, 2014 6:01:59 GMT -5
Here is more detail on the homestead exemption, which is different from homestead declaration! The homestead exemption will not fully protect your home from attachments of various kinds; most realtors assisting sales routinely provide new buyers with the form needed to declare a domicile. Because of unusual circumstances, it has been stated by my attorney that homeowners would be wise to nail down their homestead rights to assure that there is no question down the road in the event of a covenant revitalization if the owner does not wish to re-encumber their property. At last count, SLR had 186 homestead exemptions recorded in Polk County; however, there are probably more homestead properties that do not qualify for an exemption! Since most SLR owners do not use realtors and don't have an attorney on speed-dial, a copy of the form is attached >>>>>Declaration_of_Domicile.pdf (83.76 KB) Attachment DeletedThe full text of "Declaration of Homestead" is Florida Statute 222.01 >>> Declaration of HomesteadDifference between Homestead Exemption and Homestead Declaration Homestead Exemption is when you are allowed a determined dollar amount off of your tax assessment by and from the particular state and/or county your homestead is located. Your home may or may not qualify for a 'Homestead Exemption', which is related to ad valorem property taxes and assessments (Real Estate Property Taxes) but does not protect your home and real property from lawsuits, judgments or creditors. Homestead protection is not as 'automatic' as most people widely and commonly assume. The adage that 'they can't take your house' does not always ring true. In fact, it happens more today in the US than it did during the Depression. Homestead Declaration on the other hand is a sworn statement by the homeowner of their election to claim this property as their homestead and as such has recorded same with the county clerk. The statute allows homeowners to 'designate' and 'set apart' their homestead, to protect it from a forced sale to satisfy creditors, and to protect its equity. The exemption of a homestead from ad valorem taxation is quite a different thing from the exemption of a homestead from seizure and sale for debts, and therefore homestead issues and court decisions for tax purposes are not necessarily relevant to issues and decisions for forced sale purposes, the statutory provisions being entirely different as there are many case studies on this subject. Definition of HomesteadA general legal definition is that a 'homestead' can be any structure, condominium, manufactured or mobile home, a motor home, vehicle, boat or vessel, tent, or any other livable structure usually on owned or leased land as long as the resident owns the 'home', or has an equity interest in it, and resides there. A homestead is usually the structure that a person lives in and land on which it sits. The property must be a person's primary residence for it to be eligible for a homestead declaration. Does a homestead declaration prevent my home from being sold to pay all judgments? NO. A Homestead Declaration will not protect you from the following: • Unpaid Taxes. • Unpaid mortgage, trust deed or other loan arrangement used to purchase or refinance your property or improvements to your property. • A mechanic’s lien or other obligation to pay because of improvements made to your property. • Any lien to which you agree by accepting the property subject to codes, covenants and restrictions, deed restrictions or equitable servitudes.
Note: When you accepted the title to S-bag property, you agreed to be bound by Covenants, deed restrictions and equitable servitudes. That is why homestead property is subject to liens and forced sale in certain circumstances.
However---there was never a provision in SLohA Covenants permitting foreclosure of your property for failure to pay assessments so SLohA cannot force a sale for failure to pay assessments and that is totally different from homestead protection.
What declaration of a homestead provides is further assurance against retroactive application of CC&R's when and if they are revitalized.
Disclaimer: I am not an attorney and the interpretations above are my opinion and offered for informational purposes only. These interpretations should not be relied upon if you are contemplating legal action. Consult an attorney for legal advice.
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Post by Dick Tracy on Apr 24, 2014 8:45:08 GMT -5
How does declaration of a homestead apply if your property is not expired?
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Post by Admin on Apr 24, 2014 9:27:17 GMT -5
Declaration of Domicile is a protection against money judgements which are not exempt (see previous list) and should be filed by *Florida residents especially those who do not qualify for a homestead tax exemption due to income. A Declaration is advisable to be filed by all Florida residents in addition to homestead exemption and regardless of lot expiration. This is because when/if the courts declare the subdivision covenants to be expired and, if SLohA elects to revitalize, you do not have to be incorporated into a revitalization if you are a homesteaded property.
Homesteading is separately a tax break and a condition of property! You can have one without the other but both would be best and the most protective of your property and pocketbook!
Because the revitalization is not retroactive, you start again from scratch and it doesn't matter that yours was one of the few lots that did not actually expire. There are probably very few people in SLR in your situation i.e. BOTH a Florida homestead property AND an unexpired lot. By my casual estimate, overall there are less than 200 unexpired lots remaining.
BTW-you do not need to have a conventional home to get a homestead tax exemption; you can get a certificate of exemption on real property which is the same thing.
*An interesting tidbit, the Florida statute 222 does not place a time parameter on what constitutes "full time" or even a minimum time you must physically reside in Florida. Many states do place a specific restriction about residency time but Florida does not. That is a "widely-held belief" that is not supported by the law. You just have to do the other reasonable things that supports your claim that Florida is Home!
Disclaimer: I am not an attorney and the interpretations above are my opinion and offered for informational purposes only. These interpretations should not be relied upon if you are contemplating legal action. Consult an attorney for legal advice.
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Post by J Grnt on Apr 24, 2014 10:13:50 GMT -5
All you need to qualify for a Homestead Exemption is
Proof of Ownership
Florida Drivers License
Car Registered in Florida
Electricity Bills from your Residence in Florida
You go to Bartow Clerks office and they pretty much do the rest for you.
By doing this we cut our yearly property tax by more than 2/3 and that makes it worth doing.
Example: If you file for the Homestead Exemption and you are a Widow and meet the qualifications and own a $75,000 home you only pay Non Ad Valorem Tax.
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Post by Taxpayer on Apr 25, 2014 6:12:02 GMT -5
I'll clarify that. Non ad valorum is a "service or value" fee assessed per unit--not on the value of the property. My non-ad valorum tax has been under $200 for the last 3 years. If I did not have my exemptions, I would be paying over $600-so taking a couple hours to file a homestead tax exemption in Bartow is time-well spent and lots of money saved!
And while you are there, don't forget to file your Declaration of Domicile.
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Post by Admin on Jan 28, 2015 6:24:35 GMT -5
This was the handout at the Jan 25, 2015 MRTA Seminar: The Homestead Exemption “Opt-Out”Florida homestead properties whose covenants have already expired and which have established homestead that pre-dates the effective date of the recorded revitalized covenants are not required to be subject to revitalized Covenants. What that means is that if you have a property that has extinguished covenants and you live or have an intent to live on that property, revitalization will never enable the HOA to lawfully impose its use restrictions or foreclose on your home as long as you live there. Homestead exemptions require certain conditions must be met to prove that a property is being used as your primary homestead (details below). Adding the layer of a documented tax exemption to your declaration of homestead could be helpful in establishing the existence of a true homestead to support an opt out position when and if it comes time to revitalize and save you lots of money. Here is the applicable law: Frd O'N eel (Attny), Esq. states "The message here is to declare your parcel a homestead now, if that is feasible, to avoid having Covenants reimposed at some time in the future should SLohA successfully revitalize the covenants and you do not wish to be encumbered. Homestead Exemption can now be applied for online by going to our Website Polk County Property Appraiser<polk county="" property="" appraiser=""></polk> and clicking on the File Tax Exemption Link on the left side of the Home Page. Exemptions you may apply for online: • Homestead Exemption • Senior Exemption (Age 65 and older) • Widow/Widower Exemptions • Disability Exemptions • Disabled Veteran Exemptions In order to complete the process, you will need the following information for each person applying: Required to file an exemption online • Florida Driver License or Florida Identification Card • Social Security Number Requested to establish residency • Florida Vehicle Registration • Florida Voter Registration Card • Permanent Resident Card (for any applicant who is not a US Citizen) Disclaimer: I am not an attorney and the interpretations above are my opinion and offered for informational purposes only. These interpretations should not be relied upon if you are contemplating legal action. Consult an attorney for legal advice. |
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gusto
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"A Friend of Bill W."
Posts: 117
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Post by gusto on Jun 22, 2015 16:18:07 GMT -5
This is "A Must Read" For Any Resident in S-bag, Pass It Forward !.....
Facts About Homestead Exemption "OPT - OUT".....
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