Laws, Regulations & Annotations

D

350.0000 DISABLED VETERANS' EXEMPTION

Annotation 350.0050

350.0050 Trusts, Reserved Life Estates and Joint Tenancies. The disabled veterans' exemption claimed by an eligible veteran or a spouse thereof is not impacted by a subsequent transfer of the property if the transfer is: to a trust, if the veteran or the spouse is the sole present beneficiary or if the trust is revocable; a transfer that creates a future interest but reserves a life estate in the grantor veteran or spouse; or, a transfer that creates a joint tenancy in which the transferor veteran or spouse is one of the joint tenants provided, however, that only the retained joint tenancy interest is eligible for exemption. C 6/25/1985; C 10/15/1992.