| Partial Exemption of Homesteads Attorney General Opinions Tenants-In-Common-Exemption Allowable |
Title: Tenants-In-Common-Exemption Allowable
071-38 - March 11, 1971
TENANTS-IN-COMMON - EXEMPTION ALLOWABLE
To: Wayne A. Carlisle, County Attorney, Gainesville
Prepared by: Winifred L. Wentworth, Assistant Attorney General
QUESTIONS:
- Based on the assumption that there are five tenants-in-common, one of whom maintains a permanent residence on the property and otherwise qualifies for homestead exemption, what would the homestead tax exemption be under the following circumstances:
- If the property has a value of $25,000,
- Would the homestead exemption be $5,000-that is, one fifth of the value of the real estate assessable to that one fifth owner-or
- Would it be one fifth of $5,000, the latter being the maximum allowance for homestead under the constitution?
SUMMARY:
- Real property assessed to five tenants-in-common may be eligible for the maximum of $5,000 homestead exemption where one of the tenants maintains a permanent home there, regardless of how the allowable exemption may be divided among the tenants-in-common.
The questions presented should in my opinion be answered in the affirmative, except for part b. of question 1. which should be answered in the negative, for the reasons stated in recent AGO 070-54.
When the assessable value of the interest of a one fifth tenant-in-common exceeds $5,000, such tenant would not be restricted to one fifth of the maximum homestead exemption of $5,000, because under Art. VII, §6(b), State Const., the exemption is accorded to each homestead residential unit, limited to the specified amount or to any lesser "value of the real estate assessable to the owner" claiming such exemption.
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