The exemptions apply only to property that you own and occupy as your principal place of residence. SECTION 1: Exemption(s) Requested (Select all that apply.) Do you live in the property for which you are seeking this residence homestead exemption?Bought a primary residence within the past year in Texas? It's time to file for your Texas Homestead Exemption. In this comprehensive guide, I delve into the essentials of the Texas Homestead Exemption. Both owners must sign the application form and, if both owners otherwise qualify, the homestead exemption will be granted for the entire home. Bought a primary residence within the past year in Texas? It's time to file for your Texas Homestead Exemption. What is the homestead exemption application process when there are multiple heirs? Find out what exemptions are there?