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Vol. 77, No. one January 2003 Pg 60 Barry A. Nelson and Kevin E. Packman serious residence, Probate and believe in legislation In current content talking about superior-profile company malfeasance and accounting scandals, the use of Florida’s unrestricted homestead exemption to stop creditors’ statements has become pointed out with concern.1 usually referring to it for a legal loophole, detractors with the unlimited homestead exemption point out which the exemption permits debtors to divert considerable property to the purchase of latest and extravagant residences which can be shielded from creditors beneath Florida’s point out constitution.
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If Homestead exemption is missing, retroactive clawback authority also applies. it is a statutory mandate given on the assets Appraiser for clawback of prior yrs Rewards. This mandate is especially harsh. it is actually mentioned under as it was used in a certain appellate view.
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