Can a condominium qualify as Florida homestead in an action to terminate a condominium association even if you don’t live there?

Under a Florida condominium statute, section 718.117, an owner who resides in a condo unit as his homestead has rights to increased compensation.

Florida homestead law does not require that an owner resides in the homestead property if a dependant member of the owner’s family, such as a spouse or child, permanently resides in the property. Under those circumstances, the owner is not required to reside in Florida.

However, under the condominium statute, an owner must have claimed the homestead tax exemption prior to the recording of the plan of termination to receive the benefits afforded to homestead owners.

Qualifying a homestead for asset protection without the tax application is not sufficient to warrant homestead benefits.

This is another example where the homestead law depends upon the purpose for which homestead is asserted and upon the relevant statutory or constitutional basis for homestead benefits.

Jon Alper

About the Author

Jon Alper is a nationally recognized attorney specializing in asset protection planning. He graduated with honors from the University of Florida Law School and has practiced law for almost 50 years.

Jon and the Alper Law firm have advised thousands of clients about how to protect their assets from creditors.