Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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Annotation 350.0043

350.0043 Revocable Trusts. The residence of a qualified veteran, the title to which is transferred to a revocable trust, remains eligible for exemption. Only bare legal title vests in the trustee, whether that be the veteran or someone else. As the beneficiary of the trust, the veteran acquires an equitable estate in the trust property and is still regarded as the owner of the property for purposes of the exemption. Additionally, the designation of the veteran and the veteran's spouse as co-beneficiaries would not prevent exemption. C 3/22/1990.