House Bill 4003e1

                                  CS/HJR 4003, First Engrossed/ntc



  1                      House Joint Resolution

  2         A joint resolution proposing an amendment to

  3         Section 4 of Article X of the State

  4         Constitution, relating to exemptions of

  5         property from forced sale.

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  7  Be It Resolved by the Legislature of the State of Florida:

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  9         That the amendment to Section 4 of Article X of the

10  State Constitution set forth below is agreed to and shall be

11  submitted to the electors of Florida for approval or rejection

12  at the general election to be held in November 1998:

13         SECTION 4.  Homestead; exemptions.--

14         (a)  There shall be exempt from forced sale under

15  process of any court, and no judgment, decree or execution

16  shall be a lien thereon, except for the payment of taxes and

17  assessments thereon, obligations contracted for the purchase,

18  improvement or repair thereof, or obligations contracted for

19  house, field or other labor performed on the realty, the

20  following property owned by a natural person:

21         (1)  a homestead, if located outside a municipality, to

22  the extent of one hundred sixty acres of contiguous land and

23  improvements thereon, which shall not be reduced without the

24  owner's consent by reason of subsequent inclusion in a

25  municipality; or if located within a municipality, to the

26  extent of one-half acre of contiguous land, upon which the

27  exemption shall be limited to the residence of the owner or

28  his family;

29         (2)  personal property to the value of one thousand

30  dollars.

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CODING: Words stricken are deletions; words underlined are additions.






                                  CS/HJR 4003, First Engrossed/ntc



  1         (b)  These exemptions do not apply to the extent such

  2  real property is acquired or improved, or the equity value of

  3  such property is increased by prepaying any mortgage debt,

  4  with the intent to defraud creditors.

  5         (c)(b)  These exemptions shall inure to the surviving

  6  spouse or heirs of the owner.

  7         (d)(c)  The homestead shall not be subject to devise if

  8  the owner is survived by spouse or minor child, except the

  9  homestead may be devised to the owner's spouse if there be no

10  minor child.  The owner of homestead real estate, joined by

11  the spouse if married, may alienate the homestead by mortgage,

12  sale or gift and, if married, may by deed transfer the title

13  to an estate by the entirety with the spouse.  If the owner or

14  spouse is incompetent, the method of alienation or encumbrance

15  shall be as provided by law.

16         BE IT FURTHER RESOLVED that in accordance with the

17  requirements of section 101.161, Florida Statutes, the title

18  and substance of the amendment proposed herein shall appear on

19  the ballot as follows:

20                 LIMITED EXCEPTION TO PROHIBITION

21          ON FORCED SALE OF DEBTORS' HOMESTEAD PROPERTY

22         Proposing an amendment to Section 4 of Article X of the

23  State Constitution to exclude from the exemption from forced

24  sale any homestead property acquired or improved, or the

25  equity value of which is increased by prepayment of mortgage

26  debt, with an intent to defraud creditors.

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