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What if a veteran has transferred ownership in his/her property to a son or daughter but retained a life estate?

April 26, 2017daughter Estate life ownership Property son transferred veteran

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What if a veteran has transferred ownership in his/her property to a son or daughter but retained a life estate?

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If a qualifying veteran retains life estate interest in the property and continues to occupy the property as his/ her homestead and primary place of residence, that veteran would be eligible for this exclusion.