Janet, a Florida resident, owns homestead property worth $800,000. She moves to California for a new job but keeps the Florida property and rents it out while living in a California apartment. Two years later, she faces bankruptcy. Can she still claim Florida homestead exemption on the property?
Correct Answer
C) No, because the property is no longer her permanent residence
Correct: Homestead exemption requires the property to be the owner's permanent residence; renting it out while living elsewhere terminates homestead status. A is incorrect because intent alone doesn't maintain homestead status when permanently residing elsewhere. B is incorrect because residency status doesn't overcome the requirement that the property be the actual residence. D is incorrect because simply moving back wouldn't automatically restore homestead status that was lost.
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