"Every person who owns and resides on real property in Florida on January 1 and makes the property his or her permanent residence is eligible to receive a homestead exemption up to $50,000.
The first $25,000 applies to all property taxes, including school district taxes. The additional exemption up to $25,000, applies to the assessed value between $50,000 and $75,000 and only to non-school taxes. "
If you're seeking legal advice, ask an attorney.
What you mean to say is;
What will the Bank do if I do not occupy the property?
The consequences could be very serious.
The Bank will find out!
You might want to ask an Attorney; it would be in the Contract/Loan papers.