Does homestead protection apply to a home that you are not living in?

Whis is the exemption amount?

Asked on November 1, 2011 under Real Estate Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

The homestead exemption statutes uniformally on the books of all states in this country apply to a person's primary residence whether or not he or she is actually living in it. The act exempts a certain amount in equity from levy by creditors of the owner of the property.

The amount of the homestead exemption of one's primary residence varies from state to state per individuals as well as married couples ranging from $5,000 to $75,000 as a general rule. Each state has a different amount exempt from levy by creditors of the property's owners.


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