Brewer and Lee read questions on inherited homes, documentation, and LLCs
The chairs ask about mechanisms for residents with unclear titles from inherited homes, what documents are strongest for proving residency, how conflicting documentation is evaluated, and how finance handles properties held by LLCs.
13.
There are homes in gender-fine...
communities throughout the city where the market values have now begun to exceed $5 million.
Some of them have been in the same hands through generations, and while the values of the homes may have soared in recent years, residents of these homes are solidly working class who are subject to many pressures.
One of those revolves around unclear titles when a prior owner passes away without a clear will.
In those cases, heirs may have the claim to the title of the property, but the deed has not been legally transferred to the heir.
This creates a dynamic where it may be difficult to document primary residency in these circumstances.
Are there any mechanisms in place to assist these long-time residents with filing an exemption?
14.
Residents have asked what documents are sufficient to establish primary residency.
A.
What documents does DOF consider the strongest evidence?
B.
Can taxpayers rely on the same documentation used for STAR, the Veterans Exemption, or the Cooperative Condominium Property Tax Abatement?
C.
Can electronic records be submitted?
D.
How will DOF evaluate conflicting documentation?
E.
What opportunity will an applicant have to cure an incomplete application before DOF issues a denial?
15.
How is finance dealing with homes that are held by LLCs?
What is the process to ensure that these individuals who have LLCs holding the property are determined as having primary?
Residents in the city.