Q If a duly created living or family trust provides for an initial income beneficiary but does not expressly identify an initial principal beneficiary or does not identify a beneficiary who is entitled to and does occupy any residence located on the trust property, does the trust qualify for homestead exemption?

A Section 27-33-17 defines ownership and includes beneficiaries of trust owned property. Thus this type of property may qualify for homestead exemption if the other provisions of the Homestead Exemption are met. Section 27-33-17 imposes the duty and responsibility on the board of supervisors to pass on the correctness and the eligibility of the property and of the person of all applications for homestead exemption, taking into consideration “public records, personal knowledge, information given by the assessor, and any other reliable source of information that may be available…” Therefore, the factual determinations should be made by the board and reflected by an order entered upon its minutes. (Attorney General’s Opinion to Montgomery, March 12, 2018)