All of the following are requirements for Florida homestead exemption EXCEPT:
Correct Answer
D) The owner must be at least 65 years old
Correct: Age is not a requirement for homestead exemption in Florida. Why not A: Permanent residence is required for homestead exemption. Why not B: Florida residency is required to claim homestead exemption. Why not C: The property must be used for residential purposes to qualify.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
Tenancy by the entirety is a form of co-ownership available only to married couples that includes the right of survivorship and protection from individual creditors. Neither spouse can unilaterally sell or encumber the property.
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Previous Question
Sarah owns a condominium in Orlando that she rents out to tenants while living in an apartment herself. She wants to claim homestead exemption on the condominium. What should her real estate agent advise?
Next Question
Robert and his wife divorced last year. The divorce decree awarded the family home to his ex-wife, but Robert continues to live there with her permission while looking for a new place. Robert wants to maintain his homestead exemption on the property. What is the likely outcome?