The primary probate proceeding is usually held in the decedent’s state of residence or home state. However, a state probate court only has authority over property in its own jurisdiction; it does not have the power to issue orders for property that is located in another state. Therefore, an additional probate proceeding becomes necessary.
Traditionally, estate planners have split tenancies by the entirety in order to fund separate trusts for both spouses, with the aim of maximizing estate tax exemptions.
In Miami-Dade County, the 2020 Homestead Exemption applications and Portability applications are due on March 2nd. Read our blog below to find out how to apply!
Imagine being a homeowner in Florida, selling your home and not buying a new home until three years later. Did you know that you were most likely receiving property tax savings at your old property? And better yet, you could have transferred some or all of those savings to your new property if you had just filed a homestead portability application within two years.
In Florida, JTWROS means that the full title to property goes to the owner that survives. The “survivor” of the joint owner automatically owns 100% of the asset when the other joint owner passes away.
Foreclosure is a lengthy and expensive process that your lender may also be trying to avoid. Your lender may be calling regarding the following alternatives to foreclosure.
To qualify for the homestead exemption, a person must meet certain requirements and a person may lose their homestead exemption if the requirements of the statute are not met every year.
Florida statute provides that a landlord is to refund the full amount of the security deposit, minus any findings of property damage or other incidentals, within 15 days after the tenants move out of the residence.
A Setback is the distance from the Base Building Line (the officially mapped street line) to the point where a building may be constructed. The City of Miami provides setback requirements for property owners in the Miami 21 Zoning Code.
After deciding whether to invest in rental properties, it is important to make an informed decision regarding the kind of business entity your company should become.
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