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  • Equity in inherited house used to purchase primary residence

    This is my second post, first one was in Chapter 7, now I'm thinking of Chapter 13. Will be meeting w/attorney next week.

    I live in South Florida and inherited family home (paid for but not worth much) in North Florida (not homestead). My invalid sister is living in the house rent free....
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  • HPCRY
    started a topic Florida homestead exemption v. domicile

    Florida homestead exemption v. domicile

    I recently inherited a house in North Florida. I have resided in South Florida for 40+ years. I currently rent after doing a short sale on personal residence and now need to file BK. I'm confused about domicile vs homestead. Once probate is finished the N Fla home will not have homestead for tax purposes,...
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  • HRoark0717
    started a topic Two Schedule C Questions

    Two Schedule C Questions

    This question refers to the California System 2 exemption chart: As an individual, if you are renting an apartment, does the asset, "Homestead" apply to renters?

    If the "Homestead" asset amount does apply to renters, then I have another question.
    In the exemption...
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  • NJ. Own my house outright, 85K+- in cc debt. Conflicting advice, fresh help needed.

    Glad to find this forum, I thank everyone in advance for their time and advice. I own my own home, $160K value. Married but home is in my name. Approx $85K in CC debt. I am unemployed going on 3 yrs (no construction in/ near our tourist town), wife made $32K in '09. I have been selling my toys, camper,...
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  • Homestead, Wildcard, Personal Property & Tools of Trade

    I'm having some trouble understanding how some of the exemptions are applied. Let me throw out a hypothetical (with obviously fake numbers and facts).

    Fact 1: I do NOT own a home or other real property/real estate.
    Fact 2: My personal property and belongings entirely consist of $30,000...
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    Last edited by njbk7; 12-13-2010, 05:34 AM.

  • DYLAN150
    started a topic Homestead question (house value)

    Homestead question (house value)

    When figuring out your home value (Homestead exemption) does closing cost's come into the equation at all? Or just take home value minus the mortgage loan?
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