A Florida resident who is overseas

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Latest post Tue, May 19 2015 6:57 AM by Drew. 7 replies.
  • Fri, May 15 2015 2:12 AM

    • Pelle471
      Consumer
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    • Joined on Fri, May 15 2015
    • FL
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    A Florida resident who is overseas

    Dear All,

    I think my case is unusual and was wondering if someone ever came across this too. So...due to family situations, I moved to Europe 7 years ago and rented out my condo in Florida. I am a US citizen and since I moved overseas I still file my taxes, went back a few times and keep my residency and driver's license active. I've paid all my dues and don't owe the county nor the state. What I make in Europe, plus the exchange rate, is not enough to cover all my debts I left behind in the US. The rent from my condo barely covers the mortgage and condo fees and thus I can never send enough money to cover all my remaining bills. Though I have never been late on any payment, I can nolonger pay the minimum balances either. Could I still file for bankruptcy? Thanks! 

  • Fri, May 15 2015 2:57 AM In reply to

    Re: A Florida resident who is overseas

    Certainly you may file bankruptcy. If most of your U.S. assets are in Florida, then that is likely where you need to file. Contact a Florida bankruptcy attorney to determine if bankruptcy would help you and which type of bankruptcy you ought to use.

  • Fri, May 15 2015 8:57 AM In reply to

    Re: A Florida resident who is overseas

    Pelle471:
    went back a few times and keep my residency and driver's license active.

    I'm not sure what you mean by this.  You're clearly not a resident of Florida and haven't been for several years.  I don't imagine you actually have to be physically present to renew your driver's license, but, in any case, having a driver's license doesn't make you a resident.

     

    Pelle471:
    Could I still file for bankruptcy?

    Sure you can.  Anyone can file for bankruptcy, but I doubt that's really what you intended to ask.

    My guess is that you intended to ask if it would be appropriate for you to do so in Florida.  In that regard, the basic BK venue rule is that a BK case "may be commenced in the district court for the district . . . in which the domicile, residence, principal place of business in the United States, or principal assets in the United States, of the person or entity that is the subject of such case have been located for the one hundred and eighty days immediately preceding such commencement, or for a longer portion of such one-hundred-and-eighty-day period than the domicile, residence, or principal place of business, in the United States, or principal assets in the United States, of such person were located in any other district."  28 U.S.C. section 1408.

    The better question is whether you really need to given that it sounds like you want to walk away from your condo.

  • Mon, May 18 2015 4:12 AM In reply to

    • Pelle471
      Consumer
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    • Joined on Fri, May 15 2015
    • FL
    • Posts 3

    Re: A Florida resident who is overseas

    Thanks for the clarifications. Actually, I also need to be more clear. I do want to keep my condo. I would prefer not to foreclose on it. I hope since I am not currently living in it and its rented out, the condo can still count as an exempt asset from liquidation.

  • Mon, May 18 2015 10:21 AM In reply to

    Re: A Florida resident who is overseas

    You can google FL exemptions, but rental property isn't likely to be on the list (although you may be able to use the catch-all exemption -- asumming FL has one -- for part of the equity.

  • Mon, May 18 2015 10:09 PM In reply to

    • DOCAR
      Lawyer
    • Top 25 Contributor
    • Joined on Sat, Dec 9 2000
    • NV
    • Posts 5,453

    Re: A Florida resident who is overseas

    Florida has a very generous exempt status for your principal residence, very small if any for real property that is not your principal residence.

  • Tue, May 19 2015 6:57 AM In reply to

    • Drew
      Consumer
    • Top 10 Contributor
    • Joined on Thu, Mar 30 2000
    • PA
    • Posts 51,407

    Re: A Florida resident who is overseas

    Florida has a virtually unlimited protection for ones homestead outside of bankruptcy and a somewhat generous protection of about 145,000 in bankruptcy but there are at least two sets of rules about it must be your primary residence for XX months or days ....and so far you seem entirely short of same.....

    If your ship is soon to sink there may be ways to salvage some cargo before it goes under but you best seek some competent legal input.,



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