WILL HOME TITLE TRANSFER TO LIVING TRUST CAUSE PROPERTY TAX REASSESSMENT?

DEAR BOB: I am concerned that when we change the title on our home from my wife and me as joint tenants into our living trust, the local property tax assessor will consider this an ownership change and reassess our home to raise our property taxes or revoke our homestead exemption. Is this going to be a problem? --Richard S.

DEAR RICHARD: A personal-residence title transfer from two individual owners to the same two individuals who are the beneficiaries of their revocable living trust does not cause property tax reassessment or homestead revocation in most jurisdictions.

However, in Florida some county recorders and assessors insist the words "revocable living trust" be clearly stated on the deed.

Just to be safe, before transferring title please consult an experienced local real estate attorney and/or the county deed recorder and tax assessor to check for any unusual local requirements.