Florida Regulations 12D-7.009: Homestead Exemptions – Life Estates
Current as of: 2024 | Check for updates
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(1) A life estate will support a claim for homestead exemption.
(2) Where the owner of a parcel of real property conveys it to another who is a member of a separate family unit retaining a life estate in an undivided one-half interest therein, and each of such parties make their permanent homes in separate residential units located upon the said property, each would be entitled to homestead exemption on that part of the land occupied by them and upon which they make their permanent home.
Rulemaking Authority Florida Statutes § 195.027(1), 213.06(1) FS. Law Implemented 196.001, 196.031, 196.041 FS. History-New 10-12-76, Formerly 12D-7.09.
Terms Used In Florida Regulations 12D-7.009
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Rulemaking Authority Florida Statutes § 195.027(1), 213.06(1) FS. Law Implemented 196.001, 196.031, 196.041 FS. History-New 10-12-76, Formerly 12D-7.09.