Estate of Margarette Price v. West Florida Hospital, Inc.

Summary

The Florida First District Court of Appeal held that proceeds from the sale of a decedent's homestead lost their homestead character when the decedent's will directed that the property be sold and the proceeds distributed to her adult children. Because there was no intent to reinvest the proceeds, they became an asset of the estate subject to the claims of creditors.

Holdings

1. When a decedent's will directs the sale of homestead property and distribution of the proceeds without an intent to reinvest, the proceeds lose their homestead character and become assets of the estate subject to the claims of the decedent's creditors.

Questions Presented

1. Whether proceeds from the post-death sale of homestead property lose their homestead character and become subject to creditors' claims when the decedent's will directs the sale and distribution of the proceeds without an intent to reinvest.

Disposition

affirmed