Will Save Our Homes Property tax exemption in Florida remain intact during sale of the property and closure of the estate.

Will Save Our Homes Property tax exemption in Florida remain intact during sale of the property and closure of the estate.

Melbourne, FL -

Attorney Answers (2)

April Denise Hill

April Denise Hill

Elder Law Attorney - Saint Petersburg, FL
Answered

Save our homes applies only to the person or persons that own and live in a home. The protection is usually lost on the death of the owner unless there is a spouse or minor child. Even though it is lost at death, no additional payment is required until the next year's taxes are due.

Samuel John Saad III

Samuel John Saad III

Real Estate Attorney - Naples, FL
Answered

This is an interesting question. During the probate, if the property is still used by as homstead (i.e by the surviving spouse and/or childred), then yes SOH will apply. If the property is converted to non-homestead property (i.e. rented) and the probate remains open past January 1, then you may lose the SOH cap.
Sam J. Saad III

Law Office of Sam J. Saad III, PA
1575 Pine Ridge Road, Suite 16
Naples, FL 34109
Office: (239) 963-1635
Fax: (239) 791-1208
Cell: (239) 784-5556
www.saadlegal.com

IRS Circular 230 Disclosure: Any advice contained in this communication cannot be used for the purpose of avoiding penalties under federal tax laws.

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