Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#31
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The 19 year old restriction, has nothing to do with Federal or State Law, that's a Village's restriction, unrelated to "age restricted housing" laws. |
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#32
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Thomas W. Selleck was listed as the owner.
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#33
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Unless there is an active business on the property, with 100% of the goal of the property, I would never recommend an LLC method of ownership for a house for the owners. The shield from liability is not worth the cost for a residential owner. Kind of like Social Security, if you need it take it, but if you don't need it, don't take it. AND thanks for the heads up on the beneficial statement requirement. good discussion. former finance guy |
#34
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Within The Villages there are over 3,500 homes that have "LLC" in the Owner's Name.
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#35
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I called the Sumter county property appraiser's office and they confirmed that if the primary residence is in a LLC or Corporation that the home loses its homestead exemption, the 3% cap on the value and the portability on the home. And I believe the profit exclusion on the sale of the home.
Why would you do this?
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Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence. John Adams |
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