Florida Statutes 736.151 – Homestead property
Current as of: 2024 | Check for updates
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Terms Used In Florida Statutes 736.151
- Community property: means the property and the appreciation of and income from the property owned by a qualified trustee of a community property trust during the marriage of the settlor spouses. See Florida Statutes 736.1502
- Community property trust: means an express trust that complies with…. See Florida Statutes 736.1502
- Settlor spouses: means a married couple who establishes a community property trust pursuant to this part. See Florida Statutes 736.1502
(1) Property that is transferred to or acquired subject to a community property trust may continue to qualify or may initially qualify as the settlor spouses‘ homestead within the meaning of s. 4(a)(1), Fla. Const. Art. X and for all purposes of general law, provided that the property would qualify as the settlor spouses’ homestead if title was held in one or both of the settlor spouses’ individual names.
(2) The settlor spouses shall be deemed to have beneficial title in equity to the homestead property held subject to a community property trust for all purposes, including for purposes of s. 196.031.