When an Irrevocable Income Only Trust is created & recorded,does the creator lose their HomesteadExemption?

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2006-10-18 15:19:30 · 3 answers · asked by maya12 1 in Business & Finance ➔ Renting & Real Estate

Good question.. NO.. they do not lose their homestead exemption.. otherwise I would not have done it with my irrrevocable trust

2006-10-18 15:32:48 · answer #1 · answered by Anonymous · 0⤊ 0⤋

Speak with a reality attorney from your area

2006-10-26 10:12:22 · answer #2 · answered by nbr660 6 · 0⤊ 0⤋

As long as you live in that home you keep the exemption.

2006-10-26 18:18:06 · answer #3 · answered by George K 6 · 0⤊ 0⤋