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Life estate deed

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Jump59 Joined: 20 Sep 2011 Posts: 1 1.30 Dollars($)	Posted: Tue Sep 20, 2011 1:56 pm    Post subject: Life estate deed Like 0 Dislike 0 I am purchasing a Condo for my mother to live in -in Florida. I am considering granting a life estate to her. I understand this means that she will be responsible for taxes and qualify for homestead exemption. I then would retain ownership after her death. Is this correct.
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Tue Sep 20, 2011 8:07 pm    Post subject: Like 0 Dislike 0 Welcome Jump, Giving life estate rights will only mean that your mother will be able to stay in the property throughout her life. After her death, you will become the sole owner of the property. However, as far as I know, you will remain responsible for the taxes and you will be able to qualify for homestead exemption. _________________ Procrastination is the enemy of your financial success
sabrinatoss Community Expert Joined: 16 Jan 2011 Posts: 516 Location: Australia 82.74 Dollars($)	Posted: Tue Sep 20, 2011 8:24 pm    Post subject: Like 0 Dislike 0 Hi jump? The form is one that conveys the property to *but reserves a life estate to *I hereby convey my farm to my sons but I hereby reserve to myself a life estate. _________________ Home Loan, Mortgage Insurance Calculator, Mortgage Broker

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