Posted on: 19th Aug, 2010 11:07 am
If a home is being sold as an owner finance, can the property be transfered to the buyer to take advantage of the Homestead exemption on the property taxes? Since it is not the primary residence for the buysellers, it is not receiving the property tax reduction (exemption).
Hi bemercer,
If the property is transferred to the buyer, then the buyer will be able to take advantage of the homestead exemptions. The seller won't be able to claim the exemptions.
If the property is transferred to the buyer, then the buyer will be able to take advantage of the homestead exemptions. The seller won't be able to claim the exemptions.