Florida Regulations 12D-7.010: Homestead Exemptions – Remainders
Current as of: 2024 | Check for updates
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(1) A future estate, whether vested or contingent, will not support a claim for homestead exemption during the continuance of a prior estate. (Aetna Insurance Co. v. La Gassee, 223 So.2d 727 (Fla. 1969)).
(2) If the remainderman is in possession of the property during a prior estate, he must be claiming such right to possession under the prior estate and not by virtue of his own title; it must be presumed that the right granted under the life estate is something less than real property and incapable of supporting a claim for homestead exemption.
Rulemaking Authority Florida Statutes § 195.027(1), 213.06(1) FS. Law Implemented 196.001, 196.031, 196.041 FS. History-New 10-12-76, Formerly 12D-7.10.
Terms Used In Florida Regulations 12D-7.010
- Continuance: Putting off of a hearing ot trial until a later time.
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Remainderman: One entitled to the remainder of an estate after a particular reserved right or interest, such as a life tenancy, has expired.
Rulemaking Authority Florida Statutes § 195.027(1), 213.06(1) FS. Law Implemented 196.001, 196.031, 196.041 FS. History-New 10-12-76, Formerly 12D-7.10.