Can our kids inherit our Villages Home?
 

Does anyone know if our under 55 yr old kids can inherit our home in The Villages and spend vacations there after we pass ?

They can definitely inherit the house. The age restriction only applies to residing in the house. As far as vacations, it depends on how long they reside in the house, and whether they comply with the under 55 residence exception rules, which are not consistently enforced or easy to understand. Apparently, not all residents need to be over 55.

Yes, they can inherit the house. Senior 55+ communities have a provision to allow for 20% of the population under the age of 55. Children under 18 cannot live here full-time but visits only.

Yes, but who decides whether or not you can be included in the 20 percent? Is this rule ever enforced?

I keep hearing about the 55 and over residency rules, but after we bought our resale home I soon realized it doesn't really matter.

First of all, the rules say that 20% of the residents can be under the senior age limit. So with a population of over 120,000, that means that 24,000 can be under the senior age limit. That is a LOT of people. Second, no one checked the age of the buyers and I'm sure there is absolutely no list anywhere of the "current" age of each home owner. Have you ever heard of prospective buyers being told that they can't buy a home because they are too young?

So with the very large numbers who are eligible under the 20% rule and the fact that no one actually knows the numbers of current resident ages, the theory that there is an age limit is all marketing and not reality. Just like our gates. But since most of us who bought here are seniors, this place is a Great place to live.

As big as TV is I find it would be impossible to monitor that 20%. Even if they did figure a way to monitor this 20% they would have a hard time throwing someone under 55 out if they're already living in TV.

I am not sure but they might be able to monitor ages via the resident ID cards.

Is the rule no one under 18 or is it no one under 19? I thought that I heard at one point that it was no one under 19 could live in TV.

Also, if people under the age of 55 live in TV, are they also using amenities (pickle ball courts, golf, rec centers, etc) other than family pools?

That's what I think, also, although I don't remember how buyers disclose birth dates. Maybe by having to show their Drivers' Licenses?

At least one person residing in the home must be 55+ - it is in the covenants. The 20% is to allow for spouses that may be left when the qualified 55+ resident passes away.

As far as age goes, you can check the Florida voting records for any given street to get a general feel for the age of people residing on that street. If the person isn't a registered voter in Florida then they won't appear on the list of course.

It has been some time since we bought and I don’t recall exactly what happened at the closing but I believe we may have had to show our driver’s license.

The only reason why the 55+ was investigated by me was because my spouse is under 55.

And there are title restrictions only allowing ownership by 55+ - I am sure that can be overcome as waivers are granted by he-who-must-not-be-named..

I would certainly check with Tv to get the official word though!

I would imagine that at least some of the early 20 somethings listed as residents in TV are college kids who live away at college during the school year but use their parents' address in TV as their permanent address.

your kids will inherit whatever you leave to them...make sure you have a Florida will though

can they live here....ya

but what difference does it make...the kids will most likely sell the joint anyway and use the cash for something they want

our kids will get whatever is left after we've enjoyed having the time of our lives

what they choose to do with it is up to them