IN RE ESTATE OF MARGARETTE PRICE, DECEASED, APPELLANT,
v.
WEST FLORIDA HOSPITAL, INC., APPELLEE
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The court affirmed that proceeds from the sale of a homestead property, when sold pursuant to the decedent's will without intent to reinvest in another homestead, lose their homestead character and become available to satisfy the decedent's creditors.
Proceeds from the sale of homestead property lose their homestead exemption and become subject to creditors' claims when sold pursuant to the decedent's will without intent to reinvest.
[1] Proceeds from the sale of homestead property lose their homestead exemption and become subject to creditors' claims when sold pursuant to testamentary direction without i…
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Join FLexlaw to unlock all legal intelligenceMargarette Price died testate on July 15, 1986, owning a homestead house. Her will directed that the house be sold and the proceeds divided equally be…
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PER CURIAM.
The decedent, Margarette Price, died testate on July 15, 1986. At the time of her death she occupied a house which was her homestead. Fla. Const, art. X, § 4. In her will she directed that the house be sold and that the proceeds from the sale be divided equally between her adult son and daughter. Appellee West Florida Hospital, a creditor of the decedent, filed a petition claiming that the proceeds of such a sale possessed no homestead character and that therefore they were available to satisfy the claims of the decedent’s creditors.
Relying on Orange Brevard Plumbing & Heating Co. v. La Croix, 137 So. 2d 201 (Fla.1962) the circuit court concluded that upon the sale of the house the proceeds became an asset of the estate subject to the claims of decedent’s creditors. We agree. Pursuant to Orange Brevard, if Mrs. Price had sold her house during her lifetime and distributed the proceeds to her two children, those proceeds would unquestionably lose their homestead character and would be subject to the claims of her creditors. This result is not altered because the sale, with no intent to reinvest the proceeds, took place following her death in accordance with the directions in her will. Accordingly, the decision of the circuit court is AFFIRMED.
BOOTH and SHIVERS, JJ., and BOWER, N. RUSSELL, Associate Judge, concur.
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Citator
Cited By (12 total)
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McKEAN v. Warburton, 919 So. 2d 341 (Fla. 2005)…roceeds added to the estate, those proceeds are applied to satisfy the specific, general, and residual devises, in that order. See also Elmowitz v. Estate of Zimmerman, 647 So. 2d 1064 (Fla. 3d DCA 1994); Estate of Price v. West Florida Hosp., Inc., 513 So. 2d 767 (Fla. 1st DCA) (holding that where testator directed in her will that her homestead be sold and the proceeds divided between her adult children, the proceeds lost their homestead character and became subject to the claims of creditors), cause dismis…
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In re Est. OF Jack Hamel v. Theodore Parker, P.A., 821 So. 2d 1276 (Fla. 2d DCA 2002)…exception to the general rule occurs when the will specifically orders that the property be sold and the proceeds be divided among the heirs. See Knadle v. Estate of Knadle, 686 So. 2d 631 (Fla. 1st DCA 1996); Estate of Price v. W. Fla. Hosp., Inc., 513 So. 2d 767 (Fla. 1st DCA 1987). Mr. Parker attempts to extend this exception to a situation in which the personal representative is given the option to distribute the property either in kind or through the proceeds of a sale. This court interpreted Price narr…
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Knadle v. Est. OF Evangeline Stewart Knadle, 686 So. 2d 631 (Fla. 1st DCA 1996)…re us on appeal from an order of the lower court determining that decedent’s homestead property is an asset of the estate, subject to the claims of creditors. Because we find this case controlled by In re Estate of Price v. West Florida Hosp., Inc., 513 So. 2d 767 (Fla. 1st DCA), cause dismissed, 518 So. 2d 1274 (Fla.1987), we affirm. We also certify a question of great public importance. On November 14, 1994, Evangeline Stewart Knadle (hereinafter Decedent) died testate at the age of 80. The Decedent had no…1 / 2
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Join FLexlaw to unlock all legal intelligenceAuthorities Cited
- Orange Brevard Plumbing & Heating Co. v. LA Croix, 137 So. 2d 201 (Fla. 1962)