Tuesday, October 13, 2015

Creditor protection: 

Four types of creditors can still force the sale of a homestead to collect debts owed to them. 
These are:

  1. The State of Florida and its counties or municipalities, to collect past due property taxes;
  2. Parties to whom the property was specifically pledged as credit for a mortgage;
  3. Mechanics who are owed money for work performed in repairing or improving the property.
  4. Any creditor with a lien that pre-dates the establishment of homestead. This usually includes condominium and mandatory homeowner association liens, depending on the language and age of the covenants.