Any person eighteen years of age or over, married or single, who resides within this state may hold as a homestead exempt from execution and forced sale. In these instances, there is no property-ownership requirement to qualify for exemption.Many properties in this category are leased to be used for a qualifying. To qualify, you must live in the home as your primary residence. The dwelling may be a house, condominium, or mobile home. Qualification for this exemption is subject to certain limitations, such as an assessed property value maximum and a household income limit. The property owner must be 65 or older. If the property has more than one owner, signatures of additional owners are not required. 2.