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I have owned & lived in my condo since 2014. it was in both…

Customer Question
Good morning, I have...

Good morning, I have owned & lived in my condo since 2014. it was in both my husband's & my name. He died in 2015 and last year I created a revocable trust in my name for our children. Since I changed the name, do I have to refile for Homestead exemption?

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

Georgia, Dekalb County

Lawyer's Assistant: What steps have you taken so far?

Nothing since I filed for Homestead Exemption in 2015. I did change the name on the deed to: ***** ***** Freeman Velleca Revocable Trust, but didn't think about Homestead Exemption and the name change. It had been Wallis M or Virginia F Velleca.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Only if I need to refile and how can I do it quickly. Also I'll be 77 next month, does that reduce any taxes? Thank you

Submitted: 5 months ago.Category: Real Estate Law
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Answered in 12 minutes by:
3/29/2018
Real Estate Lawyer: KLAW, Arbitrator replied 5 months ago
KLAW
KLAW, Arbitrator
Category: Real Estate Law
Satisfied Customers: 2,617
Experience: I have over 20 years of experience in commercial real estate law, finance, consumer credit, landlord tenant, and business law.
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G​ood afternoon. I am a legal expert attorney who will assist you today. What type of trust is the property placed in? Is it just a revocable trust?

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Customer reply replied 5 months ago
It's just a revocable trust, I am the principal and don't really have to report to anyone, it is just to get everything in order so our kids will have an easier time when I die.
Customer reply replied 5 months ago
I don't ant to pay more, I thought the county gave this information for free, It's a simple question and I don't have much money.
Customer reply replied 5 months ago
I have reached the county offices haven't I?
Real Estate Lawyer: KLAW, Arbitrator replied 5 months ago

Hello and welcome to Just Answer. No attorney-client relationship or privilege is formed by speaking to an expert on this site, the answers are for general information. By continuing, you confirm that you understand and agree to these terms.

If you transfer your condominium residence to a revocable trust, it will not affect your eligibility for Georgia homestead exemption. You do not t have to re-file the homestead exemption because you are the grantor of the revocable trust, which is in your name.

I hope this helps.

It was a pleasure assisting you today, and I would appreciate if you would rate my service, so I will receive credit and payment for my work. We as attorneys are not employees of Just Answer and are not paid unless you rate the question. After you rate the question you can ask follow up questions, and you will not be charged any additional money for the follow-up questions

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