quit claim deed and homestead

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Icon Mini Profile srobins6




Joined: 14 Sep 2009

Posts: 1

1.28 Dollars($)
PostPosted: Tue Sep 15, 2009 1:34 pm    Post subject: quit claim deed and homestead

If my husband and I do a quit claim deed to also add my daugher to the deed will this affect our homestead exemtion. We live in the state of florida. also how will this affect our medicare eligibility after 5 years.
Icon Mini Profile smithsussane
smith.sussane



Joined: 18 Sep 2008

Posts: 3738
Location: Alaska
561.45 Dollars($)
PostPosted: Tue Sep 15, 2009 8:00 pm    Post subject:

Hi srobins!

Welcome to forums!

Well, as far as I know, if you add someone to the property deed, it normally does not change the Homestead Exemption. However, in certain situations, you may lose all or part of the protection which your property receives from the Save Our Homes (SOH) assessment limitation. This assessment cap helps you in keeping the assessed value of your property from rising more than 3% per year as long as you continue with your homestead exemption. If you lose this cap, your property taxes would increase.

Feel free to ask if you've further queries.

Sussane
srobins

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PostPosted: Tue Sep 15, 2009 8:48 pm    Post subject: homestead

what will it do to our medicare eligiblity?
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