Posted by patrick on September 08, 2004 at 14:18:19:
I also bought a second home in Indiana. Now I am living there most of the time. How do I switch my personal residence to this house? Would I be eligible for a homestead exemption then?
LLC and Homestead Exemption–Indiana - Posted by Rhonda
Posted by Rhonda on August 24, 2004 at 22:09:18:
I am in the process of buying a lake house with my brother. We intend to own the property 50/50. For liability reasons, we have decided to form an LLC and use the LLC operating agreement to properly structure our mutual agreement. We are concerned about losing the homestead exemption if the home is titled in the name of the LLC. Any suggestions?
Re: LLC and Homestead Exemption–Indiana - Posted by bob
Posted by bob on August 25, 2004 at 15:07:50:
The homestead exemption generally only applies to your personal residence. This sounds like a second home or vacation property and thus no exemption would likely apply. Based on that, it wouldn’t matter for the purposes of homestead how it is titled.