The bill amends section 196.041 of the Florida Statutes, which pertains to homestead exemptions. It revises the criteria under which individuals may be considered to have legal or beneficial and equitable title to certain properties for the purpose of qualifying for homestead exemptions from ad valorem taxes. Specifically, the bill clarifies that vendees in possession of real estate under bona fide contracts, as well as lessees with long-term leases, can be deemed to have such title even if their leasehold interest terminates upon their death.

Additionally, the bill includes a provision that states the amendment is remedial and clarifying in nature, ensuring that the changes are intended to clarify existing law rather than create new legal standards. The act is set to take effect upon becoming law.

Statutes affected:
S 110 Filed: 196.041