Florida Statute 196.041
“Extent of homestead exemptions”
ch. 2026-162 (effective June 25, 2026). Inserts into subsection (1) the clause that a bona fide lease of 98 years or more on a residential or condominium parcel counts for title even if the lease terminates on the lessees' death. Section 2 of the act states the amendment is remedial and clarifying in nature.
What it means
Section 196.031 gives the homestead exemption to a person with legal or beneficial title in equity. Section 196.041 extends that title requirement, for homestead tax exemption purposes only, to several kinds of holders. Subsection (1) deems the following to have legal or beneficial and equitable title: vendees in possession under bona fide contracts to purchase recorded with the clerk of the circuit court, who reside there in good faith as a permanent residence; persons residing on real estate under dower or other estates limited in time by deed, will, jointure or settlement; lessees of a bona fide residential or condominium lease with an original term of 98 years or more, even if the lease terminates on the lessees' death; and holders of leases of 50 years or more existing before June 19, 1973.
A tenant-stockholder or member of a cooperative apartment corporation who is entitled to occupy an apartment solely by reason of the stock or membership is deemed to have beneficial title in equity to the apartment and a proportionate share of the land.
Subsection (2) provides that a person who otherwise meets the residence requirements of s. 196.031 is entitled to the exemption where the person's possessory right rests on an instrument granting a beneficial interest for life. The statute declares that interest to be “equitable title to real estate.”
- Vendees in possession under recorded purchase contracts who reside there as a permanent residence are deemed to hold title (§ 196.041(1)).
- Persons residing under dower or other estates limited in time by deed, will, jointure or settlement are deemed to hold title (§ 196.041(1)).
- A 98-year-or-longer residential or condominium lease counts even if it ends on the lessee's death (§ 196.041(1), as amended by ch. 2026-162).
- A tenant-stockholder or member of a cooperative apartment corporation is deemed to have beneficial title in equity (§ 196.041(1)).
- A beneficial interest for life under an instrument is declared “equitable title to real estate” for the exemption (§ 196.041(2)).
Text of the statute (2026)
(1) Vendees in possession of real estate under bona fide contracts to purchase when such instruments, under which they claim title, are recorded in the office of the clerk of the circuit court where said properties lie, and who reside thereon in good faith and make the same their permanent residence; persons residing on real estate by virtue of dower or other estates therein limited in time by deed, will, jointure, or settlement; and lessees owning the leasehold interest in a bona fide lease having an original term of 98 years or more in a residential parcel or in a condominium parcel as defined in chapter 718, even if such lease contains a provision terminating the leasehold interest upon the death of the lessees, or persons holding leases of 50 years or more, existing prior to June 19, 1973, for the purpose of homestead exemptions from ad valorem taxes and no other purpose, shall be deemed to have legal or beneficial and equitable title to said property. In addition, a tenant-stockholder or member of a cooperative apartment corporation who is entitled solely by reason of ownership of stock or membership in the corporation to occupy for dwelling purposes an apartment in a building owned by the corporation, for the purpose of homestead exemption from ad valorem taxes and for no other purpose, is deemed to have beneficial title in equity to said apartment and a proportionate share of the land on which the building is situated.
(2) A person who otherwise qualifies by the required residence for the homestead tax exemption provided in s. 196.031 shall be entitled to such exemption where the person’s possessory right in such real property is based upon an instrument granting to him or her a beneficial interest for life, such interest being hereby declared to be “equitable title to real estate,” as that term is employed in s. 6, Art. VII of the State Constitution; and such person shall be entitled to the homestead tax exemption irrespective of whether such interest was created prior or subsequent to the effective date of this act.
Excerpts are the subsections the summary relies on. Read the full official text of § 196.041.
History. s. 2, ch. 17060, 1935; CGL 1936 Supp. 897(3); s. 1, ch. 65-281; s. 2, ch. 67-339; ss. 1, 2, ch. 69-55; s. 1, ch. 69-68; s. 1, ch. 73-201; s. 1, ch. 78-324; s. 35, ch. 79-164; s. 4, ch. 81-219; s. 35, ch. 94-353; s. 1474, ch. 95-147; s. 1, ch. 2026-162.
How it applies
The section matters when the person living in a home does not hold a plain deed. Subsection (2) applies where the possessory right is based on an instrument granting a beneficial interest for life; the person must still meet the residence requirements of s. 196.031.
Chapter 2026-162 added to subsection (1) that a 98-year-or-longer lease on a residential or condominium parcel counts even if it terminates on the lessees' death, and states the amendment is remedial and clarifying. The Department of Revenue states (PTO 26-19, July 13, 2026) that the law first applies to the 2026 property tax roll.
Where this shows up
Pages on this site where § 196.041 does real work:
Questions people ask
Sources
- Florida Statutes (2026), s. 196.041 (“shall be deemed to have legal or beneficial and equitable title to said property”)
- Chapter 2026-162, Laws of Florida (CS/SB 110) (Section 2: “The amendment made by this act to s. 196.041, Florida Statutes, is remedial and clarifying in nature.” Section 3: takes effect upon becoming a law. Approved by the Governor June 25, 2026.)
- Florida Department of Revenue, Property Tax Oversight Bulletin PTO 26-19 (July 13, 2026) (“This law is effective on June 25, 2026, and first applies to the 2026 property tax roll.”)
- Florida Statutes (2026), s. 196.031 (the homestead exemption that s. 196.041 references)
Last checked: October 17, 2026
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