Legal Question in Real Estate Law in Florida
Avoiding Property Tax Hike
My mother owns a home since 1992 in FL and she would like me to have it (I'm her only child) but we're afraid of a huge property tax hit if we make changes to the deed. What, if anything, can be done so that I can get her home without having to pay double or triple the property tax that she pays?
1 Answer from Attorneys
Re: Avoiding Property Tax Hike
NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.
Florida law was recently revised so that if your mother keeps a life estate or is one of the joint tenants in a joint tenancy, there will be no increase in the taxable value of the house due to a change in the title to add another party.
I strongly suggest that you consult a Florida attorney who can help you with this matter as a simple error can become very costly.
Scott R. Jay, Esq.