Posted on: 05th Nov, 2007 09:48 am
hi,
if i do a quit claim deed to my son with life estate indicated will i still be able to get the standard deduction and mortgage exemption on my property tax bill ?
thanks, dean
if i do a quit claim deed to my son with life estate indicated will i still be able to get the standard deduction and mortgage exemption on my property tax bill ?
thanks, dean
Hi,
This is one of the advantages of retaining a life estate. If you are qualifying for a tax exemption program, you will still be eligible for that even after signing a quit claim with a life estate.
This is one of the advantages of retaining a life estate. If you are qualifying for a tax exemption program, you will still be eligible for that even after signing a quit claim with a life estate.
Thanks Michel