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SB0110

Clarifications to Homestead Exemption Rules for Property Owners

Last scannedAug 24, 2026, 10:35 AM

In one sentence

This law updates Florida Statute section 196.041 to clarify that certain people, such as those buying homes under recorded contracts or holding very long-term leases, are treated as owners for property tax exemptions.

Amends Florida Statute section 196.041 regarding homestead exemptions.
States that buyers living in a home they purchased under a recorded contract count as having title if they live there permanently and in good faith.
Treats lessees with leases of 98 years or more on residential property or condominiums as having legal or beneficial title, even if the lease ends when they die.
Includes lessees holding leases of 50 years or more that existed before June 19, 1973.
Confirms that members of cooperative apartment corporations who own stock to occupy a unit have beneficial title to their apartment and a share of the land for tax purposes only.
Declares these changes are meant to clarify existing rules rather than create new ones.

People buying homes under recorded contracts who live in them as permanent residents in good faith.
Tenants with long-term leases of 98 years or more on residential property or condominiums, even if the lease ends at death.
Tenants holding leases of 50 years or more that existed before June 19, 1973.
Members of cooperative apartment corporations who own stock to occupy a unit.

The law applies only for homestead exemptions from property taxes and does not change other legal rights or ownership rules.
Special lease provisions apply specifically to leases existing before June 19, 1973, with terms of 50 years or more.

Plain language

Homestead Exemption: A reduction in property taxes for people's permanent residences based on their legal or beneficial title status.
Vendee in possession: A person who has agreed to buy land under a recorded contract and already lives there as their permanent home while waiting for the final sale paperwork.
Cooperative apartment corporation: An organization where residents own shares of stock that give them the right to live in a specific unit within a building owned by the group.

Official record

Source attached

Homestead Exemptions

Official activity