Posted on: 30th Mar, 2009 12:01 pm
I Had my parents home and property deeded to me. They are in their late 80'w. My mon has severe dementia. Both my parents have life rights to the home and property. They pay the taxes and all utilities and repairs. My question is are the still entitiled to homestead rebate? They would also like to have the oil tank removed and replaced. They were told they would qualify for a rebate for doing so if their income is less than $53,000.00 which it is but as I own the home are the entitiled to any of these senior perks? We live in the state of NJ. Where can I get more info on Life Rights to a home?
Hi snootiefox,
Homestead rights can be claimed only when the property is your primary residence. As your parents have already deeded the property to you, I don't think they would be able to claim the benefits. I would suggest you to consult an attorney in this regard and take his opinion on this issue.
Thanks
Homestead rights can be claimed only when the property is your primary residence. As your parents have already deeded the property to you, I don't think they would be able to claim the benefits. I would suggest you to consult an attorney in this regard and take his opinion on this issue.
Thanks
Yes i agree with James.
