The bill amends section 196.041 of the Florida Statutes to clarify the eligibility criteria for homestead exemptions related to leasehold interests. It specifies that lessees who own a leasehold interest in a bona fide lease with an original term of 98 years or more in a residential or condominium parcel can qualify for homestead exemptions, even if the lease terminates upon their death. Additionally, it includes provisions for vendees in possession of real estate under bona fide contracts to purchase and those residing on real estate by virtue of dower or other limited estates.

The bill also states that the amendment is remedial and clarifying in nature, ensuring that the changes serve to clarify existing law rather than create new legal standards. The act will take effect upon becoming law, thereby providing immediate clarity on the eligibility of leasehold interests for homestead exemptions.

Statutes affected:
H 227 Filed: 196.041