Homestead Property in Florida
Florida homestead property (Art. X, §4) must be the owner's primary residence on real property within size limits (1/2 acre municipal, 160 acres rural). Receives creditor protection, tax exemption, assessment cap, and descent restrictions.
Qualifying Property
- Owner's primary residence (intent to remain)
- Single-family, condo, mobile home on owned land
- Multi-family if owner occupies one unit
- Adjacent vacant land within acreage limits
- Owned by natural person (certain trusts qualify)
Protections
- Creditor: No forced sale (no value limit)
- Tax: Up to $50K exemption (§196.031)
- Assessment: 3%/CPI cap (Save Our Homes)
- Portability: Up to $500K transfer (§193.155(8))
- Descent: Cannot devise away from spouse/minors
Death Descent
Spouse elects life estate or 1/2 TIC. No spouse: descendants per stirpes. Minor children: cannot devise away from spouse. Overrides the will.
Related Terms
- Estate Planning — Homestead planning
- Equity — Protected equity
- Encumbrance — Allowed liens
Barnes Walker Real Estate
Barnes Walker's attorneys advise on Florida homestead property protections and estate planning. Request a legal inquiry for assistance.
Florida Law Reference
Art. X, § 4, Fla. Const.; Fla. Stat. Ch. 196
Florida's homestead exemption provides up to $50,000 in property tax relief and constitutional protection from forced sale by most creditors. The Save Our Homes amendment caps annual assessment increases at 3%.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC