Legal Question in Wills and Trusts in Florida
Deeding A House Without Triggering A Property Tax Hike
Is there some way a parent can deed their home to one of their children without a new (and much higher) property tax coming into play?
2 Answers from Attorneys
Re: Deeding A House Without Triggering A Property Tax Hike
Yes, we do that in our estate planning. It is recommended in Florida to avoid probate. COnsult with our office or any Real estate / Estate Planning attorney that has done these special deeds before.
Re: Deeding A House Without Triggering A Property Tax Hike
I think that an outright transfer of the property to your children could result in higher property taxes. However, you could sign an enhanced life estate deed that would transfer property to your children upon your death, but which would leave title to the property in your name until that time.
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