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QUESTION: May Florida's homestead exemption be claimed for ad valorem tax purposes on a home placed in an inter vivos trust by one who is simultaneously the settlor of that trust, a cotrustee of the trust, and a beneficiary of the trust who resides on the property?

SUMMARY: Under present Florida law, the interest of one who is the settlor of a trust, as well as being cotrustee and beneficiary, does not qualify for a claim of homestead exemption from ad valorem taxation on the trust property even though such person might maintain permanent residence thereon. None of these three incidents…