Posted on: 22nd Apr, 2008 07:24 am
When an owner/grantor has an enhanced life estate deed drawn up to convey ownership of his/her home after death, does the owner/grantor still have the benefit of a homestead exemption on the property until he dies?
Welcome Slawton,
I think the grantor will be able to get the benefit of homestead exemption because he retains the right to occupy it as well as sell it by revoking the life estate if required, even without the beneficiary's consent.
I think the grantor will be able to get the benefit of homestead exemption because he retains the right to occupy it as well as sell it by revoking the life estate if required, even without the beneficiary's consent.
Hi Slawton,
A transfer of property using an enhanced life estate deed does not prevent the grantor from getting homestead exemption. However, if you can let me know the state where you reside, it will be easier for me to provide the exact information.
Just in case you'd like to check out more on Enhanced life estate deed , please refer to a previous discussion in forums.
Good luck
A transfer of property using an enhanced life estate deed does not prevent the grantor from getting homestead exemption. However, if you can let me know the state where you reside, it will be easier for me to provide the exact information.
Just in case you'd like to check out more on Enhanced life estate deed , please refer to a previous discussion in forums.
Good luck