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32 equally, homestead position is not dropped whenever a debtor leaves the house without any intention of returning but has an excellent faith intent to reinvest the proceeds of the long term sale of the home in a fresh homestead.33 nonetheless, in Dep’t of profits ex rel. Vickers v. Pelsey, 779 So. second 629 (Fla. 1st DCA 2001), money that a debtor obtained from the commercial lender and which have been intended to be applied to accumulate homestead weren't guarded beneath the homestead exemption. The court famous that no sale of a homestead was involved and, additional, the house mortgaged to safe the mortgage was also not homestead.34
in fact, while the language of your § 196.031(five) can be interpreted to go this significantly, according to the statutory term "getting", these kinds of an indirect application of your phrase "acquiring" reaches further than direct profit to the person who owns the property and it is a long term resident. This decision indulges within a legal inference that simply because people are married, They're sharing in each other economic interests to get "getting" the out-of-point out" reward.
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Other states have passed related legal guidelines that work as supposed. the trouble with Florida's, Geller mentioned, is its imprecise wording. To qualify for the exemption, residence house owners are needed to use their land for "bona fide" agricultural functions.
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Assuming the residency/domiciliary necessity is satisfied, separated married partners may come across on their own in the problem of benefiting from two homestead exemptions. The U.S. courtroom of Appeals in In re Colwell, 196 file.3d 1225 (eleventh Cir. 1999), held that a married pair living in different residences for over 3 a long time just before the submitting of their respective bankruptcy petitions certified for homestead defense for every home due to the fact there was no exhibiting of fraudulent intent driving their marital separation.
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