Protection To Surviving Spouse or Minor Child
The provision also protects a spouse in several ways. First, it restrains the homeowner from conveying the property without the approval of their spouse, even if the property is entirely in the name of one spouse, or was purchased entirely from funds of one spouse. The provision also prohibits a spouse from devising the property by will, if the homeowner is survived by a spouse or a minor child. If such a devise is made, it is deemed invalid, and the surviving spouse will enjoy a life estate with the remainder to the decedent's children. The surviving spouse may elect to take a 50% interest in lieu of the life estate as long as the election is made within six months of when the homeowner died. If this election is made, the remaining 50% is inherited by the decedent's children. A spouse may waive these rights in writing with respect to the will, but a minor child is not competent to do so. Finally, the homestead exemption for property taxes automatically attaches to the surviving spouse, so the property will never be exposed to the creditors of either spouse because of the death of the other.
Read more about this topic: Homestead Exemption In Florida
Famous quotes containing the words protection, surviving, spouse, minor and/or child:
“No: until I want the protection of Massachusetts to be extended to me in some distant Southern port, where my liberty is endangered, or until I am bent solely on building up an estate at home by peaceful enterprise, I can afford to refuse allegiance to Massachusetts, and her right to my property and life. It costs me less in every sense to incur the penalty of disobedience to the State than it would to obey. I should feel as if I were worth less in that case.”
—Henry David Thoreau (1817–1862)
“Never have anything to do with the near surviving representatives of anyone whose name appears in the death column of the Times as having “passed away.””
—Samuel Butler (1835–1902)
“You and your spouse should consider the arguments you have, not as calamities in the history of your child’s development, but as opportunities for learning. Take the opportunity to teach your children the art of and value in negotiation, and to demonstrate your ability to empathize, your willingness to compromise, and your readiness to apologize for hurt you have inflicted on others.”
—Lawrence Balter (20th century)
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—Rebecca West (1892–1983)
“When the child is twelve, your wife buys her a splendidly silly article of clothing called a training bra. To train what? I never had a training jock. And believe me, when I played football, I could have used a training jock more than any twelve-year-old needs a training bra.”
—Bill Cosby (20th century)