Florida bad State?

[fltoo]

Correct Jeb. Unfortunately, the unlimited homestead exemption, once a benefit, does us no good in the present real estate market.

The 5000. can include your cash.

They really should make it 6000. for anything since some people might lose the 1000. car exemption if there is no vehicle.

[StartingOver08]

Thank you for posting that clarification fltoo....I thought it was $5000 (completely forgetting about the car $1000 exemption)

[drowningNdebt]

Thanks for the clarification!

With another 50,000 job cuts announced today I see allot mor BK filers

[justbroke]

Thank you for posting that clarification fltoo....I thought it was $5000 (completely forgetting about the car $1000 exemption)

Be aware that the $1,000 car exemption can not be used as a wildcard. Thus, it's only a $5,000 ($4,000 unused homestead exemption plus $1,000 constitutional wildcard exemption) wildcard exemption in Florida.

The motor vehicle exemption cannot be combined with the wildcard exemption to create a phantom $6,000 wildcard exemption.

[fltoo]

Yes, we all made that clear. I needed the entire 6000. Used 5000. for car and 1000. for personal.

To add to this, my lawyer told me that some trustees and judges are still fighting that the 4000. is a cap and not added to the original 1000.
Sheesh, it seems that case law would set a precedent.

[justbroke]

To add to this, my lawyer told me that some trustees and judges are still fighting that the 4000. is a cap and not added to the original 1000.
Sheesh, it seems that case law would set a precedent.

Actually, a judge in the same District in the same Division doesn't have to rule the same way as other judges in their same Division/District. However, most due respect another judge's opinion within their respective Division/District and generally become de-factor local rule.

The only thing that will prevail is if the Chief Bankruptcy Judge sets a local rule, or the appellate Court for that Circuit sets a precedent. Even then, some will argue that underlying State law prevails... so an opinion from the 11th Circuit covering Florida, Arkansas and Georgia, on a Florida case, may not hold in Georgia due to underlying State laws.

The statutory $4,000 being it's own separate amount, from the Constitutional $1,000 amount, was decided in the Middle District of Florida. It never went to the 11th Circuit. By the way, it was Judge Paskay in Tampa, who is very debtor friendly in my book. The rest of the Middle Division has followed Paskay's reasoning In re Bezares, 377 B.R. 413 (Bankr.M.D.Fla.2007) (Paskay, J.). Other judges in the Middle District of Florida, and in the Southern District of Florida, followed Paskay's reasoning.

Part of the very good reasoning is that a Statute can't override a Constitutional Provision!!! Any layperson knows that a Constitutional Provision can only be modified or removed by a Constitutional Amendment.

I'm glad we have strict constructionist Judges here in Florida.

As for your statement that some judges are still arguing over it... I don't believe it's an argument anymore in the Middle and South District of Florida. It's an unwritten rule that you get $5,000 ($10,000/married filing jointly).

I used the $5K without even a question, and I'm not in Paskay's Division/District.

[FloridaGuy]

Let me jump in

As someone in FL who is in the middle of this... let me jump in. As others have posted it is a total of $5,000. If you have a car, you get $1000 and Personal Property you get $1000. IF you are eligible to get the wildcard exemption it is a total of $1000 per property, and $4000 wild card. The car falls into the wildcard.

Based on the case previously mentioned some courts allow "stacking" of the exemptions for the entire $5000. But it is intrepreted by the court individually.

In my case, since my wife is trying to save as much stock (that was brought to light by the trustee) as possible, we stacked her exemption for the $5K. However, our trustee disputed it. Stating she could only get $4K from the wildcard exemption, then $1K of personal property. We are in the Middle District of FL. Our judge is Paskay (actually the one who made the actually ruling previously)

We have a hearing with the court in February about this and other exemptions disputed by the trustee.

Yes... exemptions include cash (Thats another thing being covered at our hearing. Trustee went through statements too fast and added incorrectly)

[fltoo]

Let us know what happens.

My lawyer said trustee might object despite Pasky case that I quoted.

I am only over by a couple of hundred, so I will just pay it if trustee objects.
I am in middle district.

[justbroke]

Yes... exemptions include cash (Thats another thing being covered at our hearing. Trustee went through statements too fast and added incorrectly)

Can't wait to see your results.

FWIW, many Trustee's don't believe that the personal property exemption, covers cash.