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Florida Court Rules That Debtors Can Shield Assets in Homes, Even to Cheat Creditors

People who owe money can shield assets by buying Florida homes -- even if they do it purposely to cheat creditors, the Florida Supreme Court ruled. The provision in the Florida Constitution that shields homesteads from foreclosure and forfeiture also protects homes bought by debtors "with the specific intent to hinder, delay, or defraud creditors," the court said.

June 22, 2001 at 12:00 AM

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