Florida Senate - 2026                              CS for SB 110
       
       
        
       By the Committee on Finance and Tax; and Senators Arrington and
       Gaetz
       
       
       
       
       593-02299-26                                           2026110c1
    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 lease contains a provision terminating
   25  the leasehold interest upon the death of the lessees, or persons
   26  holding leases of 50 years or more, existing prior to June 19,
   27  1973, for the purpose of homestead exemptions from ad valorem
   28  taxes and no other purpose, shall be deemed to have legal or
   29  beneficial and equitable title to said property. In addition, a
   30  tenant-stockholder or member of a cooperative apartment
   31  corporation who is entitled solely by reason of ownership of
   32  stock or membership in the corporation to occupy for dwelling
   33  purposes an apartment in a building owned by the corporation,
   34  for the purpose of homestead exemption from ad valorem taxes and
   35  for no other purpose, is deemed to have beneficial title in
   36  equity to said apartment and a proportionate share of the land
   37  on which the building is situated.
   38         Section 2. The amendment made by this act to s. 196.041,
   39  Florida Statutes, is remedial and clarifying in nature.
   40         Section 3. This act shall take effect upon becoming a law.