Posted on: 07th Jan, 2009 05:55 am
If I do a quick deed to add my son to the property can he get homestead on the property...I turned my other home over to my son where I cant afford it. He is paying me everything mortgage taxes utilities etc. Can he file for homestead so he can save that money where I already have homestead on my home I live in.
Any helpwould be appreciated
Any helpwould be appreciated
Hi grandpa,
The homestead exemptions are removed when you transfer the property to someone else. The new owner will have to apply for the homestead once again. However, the new owner will have to prove that the property is his principle residence. So your son will have to prove that the property is his primary residence and apply for a homestead.
Thanks,
Jerry
The homestead exemptions are removed when you transfer the property to someone else. The new owner will have to apply for the homestead once again. However, the new owner will have to prove that the property is his principle residence. So your son will have to prove that the property is his primary residence and apply for a homestead.
Thanks,
Jerry