If you file a Homestead and then place the property in a revocable family trust, does it cancel the homestead?
Full Question:
Answer:
There are cases that have found a transfer to trust to prevent a person from claiming a homestead exemption. The homestead exemptions provided by California statutes apply only to property of a natural person. "Dwelling", as used in the homestead exemption laws, means any interest in real property (whether present or future, vested or contingent, legal or equitable) that is a "dwelling" as defined in Section 704.710, but does not include a leasehold estate with an unexpired term of less than two years or the interest of the beneficiary of a trust. I suggest you contact a local attorney who can review the facts and documents involved.
Please see the information at the following links:
http://marksgray-com.web17.winsvr.net/LinkClick.aspx?link=178&tabid=137
http://definitions.uslegal.com/h/homestead/
http://definitions.uslegal.com/r/revocable-living-trust/
http://definitions.uslegal.com/t/trustee/
http://definitions.uslegal.com/t/trusts/
http://lawdigest.uslegal.com/estate-planning/trusts-overview/
http://lawdigest.uslegal.com/real-estate-laws/homestead/dvice.
