FL Exemptions

[Cassiopeia]

I was going to post this on the Exemptions forum, but Ch. 7 seems to be getting more traffic. Mods, please move if necessary and accept my apology.

A friend of mine is considering filing Chapter 7 in FL, which is very liberal with its exemptions, as many of us know. Her home will be okay, but she is wondering about a condo she owns 50/50 WITH her disabled grown son, who lives there by himself.

Both homes are owned free and clear; no mortgages or home equity loans.

Seems somewhat complicated and I know it's best to ask a FL BK attorney, but thought I would throw it out there in case anyone happens to know the answer.

TIA.

[familyof7]

She technically owns 50% of the equity in the condo. At that rate how much equity does she have all together including the one she lives in if it is less than max exemption she should be fine.

[B12]

Hey Cassie, just sent you a pm.

I think the homestead exemption is for primary residence only.