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Can the estate of an owner qualify for a PRE under a conditional rescission?

April 26, 2017conditional Estate owner qualify rescission

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Can the estate of an owner qualify for a PRE under a conditional rescission?

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No. In order to qualify, the owner of the property must be eligible for and claim an exemption for his or her current principal residence and have occupied the previously exempted property as his or her principal residence. A deceased person cannot be eligible for and claim an exemption on a current principal residence. In addition, if the beneficiaries did not occupy the previously exempted property as their principal residence, they would not qualify for a PRE under a conditional rescission.