Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#76
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#77
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This is not my understanding. My Fl attorney says it is best to have a FL attorney do your will because they should know Fl law but any valid will you have from another state will probably (always exceptions) be legal. But you could have a problem with the person you pick as administrator if they do not meet Fl law.
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#78
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Age discrimination only works one way - meaning that nobody can stop us old farts from living anywhere..
However, it is perfectly legal to block anyone younger than a certain age from living somewhere. Hence, the 55+ laws. A community can require that nobody under the age of 55 live in the home. Interestingly, when looking at the covenants, there is a separate one for almost every neighborhood in TV. But, spot checking them, they clearly state that there must be one person over 55 in the home and nobody under 19 can be there for more than 30 days a year except in extenuating circumstances. How they regulate and manage this is anyone's guess.. |
#79
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Federal law states that in order to be defined as an over 55 community, at least 80% of the homes must be occupied by at least one person over the ager of 55. Based on that over 80% of the residents mathematically and legally could be under 55. In addition, no person under the age of 19 may reside here full time. Persons under the age of 19 may visit for a total of 30 days per year.
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The Beatlemaniacs of The Villages meet every Friday 10:00am at the O'Dell Recreation Center. "I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend." - Thomas Jefferson to William Hamilton, April 22, 1800. |
#80
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#81
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This may not be for everyone but what I did was title my house to my revocable living trust. Upon my death the trust directs my trustee to sell the house and put the net proceeds into the trust. I have two children, one in Maryland, the other in Idaho. Neither has the desire to manage the house as a rental or to live in it. If it is sold after my death there will be no capital gains taxes to worry about unless the IRS code is changed (which it may very well be!).
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"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine |
#82
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To answer your original question, your kids can inherit your home and vacation there.
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Closed Thread |
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