What is the maximum SOH savings benefit I can port to my new property?
The maximum amount you can port is $500,000. I owned a property with my ex-husband. I was awarded the house in the divorce. I sold it in 2007 and purchased a new home that I will homestead. My ex-husband also purchased a new home that he will homestead. Since I was awarded the house in the divorce is my ex-husband eligible to apply for any of the portability? And, how will the portability amount be split or divided between our new homesteads? The new legislation requires that the portability amount be divided equally among the recipients (owners) of the homestead exemption as of January 1, 2007. All parties on the deed to the property where the portable savings resides must abandon the homestead prior to the portable amount being available to any of the parties. I own a property that has three (3) people receiving the homestead. One owner has a 60% interest. The other two owners have a 20% interest each. If we sell and apply for portability, how will the portability amount be split or
