Legal Question in Real Estate Law in Florida

Re: life estate

The following is not legal advice and does not create an attorney client relationship. Property tax increase is capped at 3% annually, but only when it is your homestead. The assessment probably re-set when you recorded the deed in 2003. Make sure you have declared the property as your homestead in order to get the homestead break.

Re: life estate

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

Florida law limits an increase in the real property taxes of property that is one's homestead to three percent of the assessed value of the property for the prior year except when there is a change in ownership. By adding your wife to the title of the property in 2003, you may have triggered a new valuation of the property. Alternatively, you may have lost the homestead upon the death of your grandmother. If you do not reside on the property as your primary residence and consider Florida as your state of residence, you are not entitled to a homestead exemption or the protection it affords you.

Florida Statute 193.155 Homestead assessments states in part:

a) Subsequent to the change or transfer, the same person is entitled to the homestead exemption as was previously entitled and: .......

3. The change or transfer is by means of an instrument in which the owner

is listed as both grantor and grantee of the real property and one or more

other individuals are additionally named as grantee. However, if any

individual who is additionally named as a grantee applies for a homestead

exemption on the property, the application shall be considered a change of ownership;

I strongly suggest that you consult a qualifed real estate attorney who can review the facts of this matter to determine your rights.

Scott R. Jay, Esq.