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AGO Opinions with Topic: ELIGIBILITY OF TRUSTOR
AGO 1967 No. 13 >  March 28, 1967
TAXATION - EXEMPTION - ELIGIBILITY OF TRUSTOR
BENEFICIARY OF A REVOCABLE TRUST FOR TAX EXEMPTION UNDER CHAPTER 168, LAWS OF 1965, EX. SESS. Where a property owner, who is otherwise qualified for the tax exemption under chapter 168, Laws of 1965, Ex. Sess., has conveyed his residence to a trustee under a revocable trust agreement which entitles the trustor (1) to have the full right to use of the property during his lifetime, and (2) to revoke the trust and retake complete ownership of the property at any time during his lifetime, such property owner can still qualify for the tax exemption.
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