Here are links to the Florida Constitution and Florida Statutes regarding homestead. Please let me know if adding any links would be helpful.
1. Homestead is defined in Article VII, Sec 6 of the Florida Constitution. See FL Stat. 196.012 (13) which defines “Real estate used and owned as homestead” means real property to the extent provided in s. 6(a), Art. VII of the State Constitution…”
2. Ad Valorem Taxes
a. Save Our Homes – which limits the increase in assessed value to lesser of 3% or change in the CPI – Article VII, Sec 4(c) of the Florida Constitution & FL Statue 193.155 (also change of ownership rules which are triggering events). If you do not realize the impact of this for Florida residence, do some research. This is huge.
b. Homestead Exemptions – FL Statue 196.031 & Article VII, Sec 6 of the Florida Constitution
3. Creditor Protection – Article X, Sec 4 (a) & (b) of the Florida Constitution. Homestead is limited to ½ acre within a municipality and 160 outside a municipality.
4. Alienation & Devise – Article X, Section 4(c) of the Florida Constitution & FL Statue 732.4015. If there is a surviving spouse or minor child you cannot devise your homestead. If no minor child, the homestead can be devised to your spouse.
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