If I am forced to lease my homestead property to cover mortgage payments due to loss of job, do I lose the asset protection?

Delray Beach, FL Viewed 6 times. Posted 5 months ago in Real Estate

I was forced to close my small manufacturing company and have lost my source of income. I am considering leasing my home to cover mortgage and other expenses until I can either sell the home or afford to occupy it again. What does this do to my equity protection under FL constitution? - Is this your question? Add additional information

Answers (1)

Jonathan James Damonte

This attorney is licensed in Florida. Posted 5 months ago.

Yes. If you move out with the intention to reside elsewhere and lease your home you would lose your homestead protection against forced sale by creditors provided by the Florida Constituion.

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