Florida Senate - 2026                                     SB 110
       
       
        
       By Senator Arrington
       
       
       
       
       
       25-00151-26                                            2026110__
    1                        A bill to be entitled                      
    2         An act relating to homestead exemptions; amending s.
    3         196.041, F.S.; revising the circumstances under which
    4         a person may be deemed to have legal or beneficial and
    5         equitable title to certain property for homestead
    6         exemption purposes; providing construction; providing
    7         an effective date.
    8          
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Subsection (1) of section 196.041, Florida
   12  Statutes, is amended to read:
   13         196.041 Extent of homestead exemptions.—
   14         (1) Vendees in possession of real estate under bona fide
   15  contracts to purchase when such instruments, under which they
   16  claim title, are recorded in the office of the clerk of the
   17  circuit court where said properties lie, and who reside thereon
   18  in good faith and make the same their permanent residence;
   19  persons residing on real estate by virtue of dower or other
   20  estates therein limited in time by deed, will, jointure, or
   21  settlement; and lessees owning the leasehold interest in a bona
   22  fide lease having an original term of 98 years or more in a
   23  residential parcel or in a condominium parcel as defined in
   24  chapter 718, even if such leasehold interest terminates upon the
   25  death of the lessees, or persons holding leases of 50 years or
   26  more, existing prior to June 19, 1973, for the purpose of
   27  homestead exemptions from ad valorem taxes and no other purpose,
   28  shall be deemed to have legal or beneficial and equitable title
   29  to said property. In addition, a tenant-stockholder or member of
   30  a cooperative apartment corporation who is entitled solely by
   31  reason of ownership of stock or membership in the corporation to
   32  occupy for dwelling purposes an apartment in a building owned by
   33  the corporation, for the purpose of homestead exemption from ad
   34  valorem taxes and for no other purpose, is deemed to have
   35  beneficial title in equity to said apartment and a proportionate
   36  share of the land on which the building is situated.
   37         Section 2. The amendment made by this act to s. 196.041,
   38  Florida Statutes, is remedial and clarifying in nature.
   39         Section 3. This act shall take effect upon becoming a law.