As of August 2014, homesteading laws refer to exemptions to bankruptcies, and each state varies homesteading exemptions for Chapter 7 and Chapter 13 bankruptcy protection, according to NOLO. A homestead exemption may allow some debtors to make lower repayments by lowering the value of a home's equity if the property meets certain standards.Know More
In California, homesteading laws work in two ways. Homeowners can declare a homestead, and laws provide for an automatic homestead exemption. Automatic exemptions occur when property owners live in the home continuously from the time a property lien was placed on the property up until the time the court determines the property is exempt, according to Sedgwick Law. As of January 2010, residents must prove the house is the principle dwelling of the owner to declare a homestead in California.
Florida's homestead exemption applies to property taxes. Owners can deduct the first $25,000 of assessed property value from property tax valuations, which can save taxpayers hundreds of dollars per year. If a home is worth at least $75,000, homeowners may deduct another $25,000 in valuation, according to the Broward County Property Appraiser's office in 2014.
Homesteading originally referred to settlers who were given free land in states outside the original 13 colonies, provided they farmed the land and produced crops. Homesteading ended in 1976, with the exception of Alaska where homesteading ended in 1986.Learn more about Real Estate
The four most common grounds for evicting tenants from rental apartments in almost every state are the violation of the rental agreement or lease, untimely rent payment, property damage and the use of the premises for illegal purposes. These provide important legal grounds for renters who wish to evict tenants.Full Answer >
To write a 60-day notice to vacate, consult your lease, date and address your letter, and state your intention clearly. Include your reason for leaving, a proposed walk-through inspection date and your contact information. Finish by signing the letter.Full Answer >
To apply for a Florida real estate license, residents must meet the minimum state requirements, complete a real estate course and pass the state exam. Before the license is issued, you must submit your fingerprints and complete the online application.Full Answer >
Although a landlord needs only to give a tenant 30 days' written notice to end a tenancy in most cases, some state and local governments require that landlords show cause for terminating the rental agreement, according to Nolo. A tenancy with no lease usually constitutes a month-to-month rental agreement.Full Answer >