2000 Legislation
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SENATE BILL NO. 1297 – Life estate, homestead

SENATE BILL NO. 1297

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Daily Data Tracking History



S1297................................................by JUDICIARY AND RULES
LIFE ESTATE - Amends existing law to provide that the definition of owner
includes a person who takes property under a life estate; to provide that
the homestead shall end at the termination of the life estate; and to
provide a limitation on liability.
                                                                        
01/24    Senate intro - 1st rdg - to printing
01/25    Rpt prt - to Jud
02/07    Rpt out - rec d/p - to 2nd rdg
02/08    2nd rdg - to 3rd rdg
02/09    3rd rdg - PASSED - 33-0-2
      AYES--Andreason, Boatright, Burtenshaw, Cameron, Crow, Danielson,
      Darrington, Davis, Deide, Dunklin, Frasure, Geddes, Hawkins, Ingram,
      Ipsen, Keough, King-Barrutia, Lee, McLaughlin, Noh, Parry,
      Richardson, Riggs, Risch, Sandy, Schroeder, Sorensen, Stegner,
      Stennett, Thorne, Wheeler, Whitworth, Williams
      NAYS--None
      Absent and excused--Branch, Bunderson
    Floor Sponsor - Davis
    Title apvd - to House
02/10    House intro - 1st rdg - to Jud
03/28    Rpt out - rec d/p - to 2nd rdg
03/29    2nd rdg - to 3rd rdg
04/03    3rd rdg - PASSED - 62-3-5
      AYES -- Alltus, Barraclough(Barraclough), Barrett, Bell, Bieter,
      Black, Boe, Bruneel, Callister, Campbell, Chase, Cheirrett, Crow,
      Deal, Denney, Ellsworth, Field(13), Field(20), Gagner, Geddes, Gould,
      Hadley, Hammond, Hansen(23), Henbest, Hornbeck, Jaquet, Judd,
      Kempton, Kendell, Kunz, Lake, Linford, Loertscher(Loertscher), Mader,
      McKague, Meyer, Montgomery, Mortensen, Moss, Moyle, Pearce, Pischner,
      Pomeroy, Reynolds, Ridinger, Ringo, Robison, Sali, Schaefer, Sellman,
      Shepherd, Smith, Smylie, Stevenson, Stoicheff, Stone, Taylor, Tilman,
      Trail, Wood, Zimmermann
      NAYS -- Cuddy, Marley, Wheeler
      Absent and excused -- Clark, Hansen(29), Jones, Kellogg, Mr Speaker
    Floor Sponsor - Sali
    Title apvd - to Senate
04/04    To enrol - rpt enrol - Pres signed
04/05    Sp signed
04/06    To Governor
04/12    Governor signed
         Session Law Chapter 226
         Effective: 07/01/00

Bill Text


 S1297
                                                                        
                                                                        
  ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
 Fifty-fifth Legislature                  Second Regular Session - 2000
                                                                        
                                                                        
                                       IN THE SENATE
                                                                        
                                    SENATE BILL NO. 1297
                                                                        
                              BY JUDICIARY AND RULES COMMITTEE
                                                                        
  1                                        AN ACT
  2    RELATING TO HOMESTEADS; AMENDING SECTION 55-1001, IDAHO CODE, TO PROVIDE  THAT
  3        THE  DEFINITION  OF  "OWNER"  INCLUDES A PERSON WHO TAKES PROPERTY UNDER A
  4        LIFE ESTATE; AND AMENDING SECTION 55-1010, IDAHO CODE, TO PROVIDE THAT THE
  5        HOMESTEAD SHALL END AT THE TERMINATION OF THE LIFE ESTATE AND TO PROVIDE A
  6        LIMITATION ON LIABILITY; AND PROVIDING AN EFFECTIVE DATE.
                                                                        
  7    Be It Enacted by the Legislature of the State of Idaho:
                                                                        
  8        SECTION 1.  That Section 55-1001, Idaho Code, be, and the same  is  hereby
  9    amended to read as follows:
                                                                        
 10        55-1001.  DEFINITIONS. For purposes of this chapter:
 11        (1)  "Dwelling house" and "mobile home" include manufactured housing.
 12        (2)  "Homestead"  means  and  consists of the dwelling house or the mobile
 13    home in which the owner resides or intends to reside, with appurtenant  build-
 14    ings,  and  the  land on which the same are situated and by which the same are
 15    surrounded, or improved; or unimproved land owned with the intention of  plac-
 16    ing  a house or mobile home thereon and residing thereon. A mobile home may be
 17    exempted under this chapter whether or not it is permanently  affixed  to  the
 18    underlying  land and whether or not the mobile home is placed upon a lot owned
 19    by the mobile home owner. Property included in the homestead must be  actually
 20    intended or used as a principal home for the owner.
 21        (3)  "Net value" means market value less all liens and encumbrances.
 22        (4)  "Owner"  includes, but is not limited to, a purchaser under a deed of
 23    trust, mortgage, or contract, or a person who takes the subject property under
 24    a life estate.
                                                                        
 25        SECTION 2.  That Section 55-1010, Idaho Code, be, and the same  is  hereby
 26    amended to read as follows:
                                                                        
 27        55-1010.  DEVOLUTION  AFTER  DEATH.  If the selection of the homestead was
 28    made by a married person from the community property, the land, on  the  death
 29    of either of the spouses, vests in the survivor, subject to no other liability
 30    than such as exists or has been created under the provisions of this title; in
 31    other  cases,  upon  the  death of the person whose property was selected as a
 32    homestead, it shall go to his heirs or devisees, subject to the power  of  the
 33    court  to  assign the same for a limited period to the family of the decedent;
 34    but in no case shall it be held liable for the debts of the owner,  except  as
 35    provided  in  this title or in section 56-218, Idaho Code. If the selection of
 36    the homestead was made by a person with a life estate  in  the  property,  the
 37    homestead shall end at the termination of the life estate, subject to no other
 38    liability than the liability that exists or has been created under this title.
                                                                        
 39        SECTION  3.  This  act shall be in full force and effect on and after July
 40    1, 2000.

Statement of Purpose / Fiscal Impact


                      STATEMENT OF PURPOSE
                            RS 09459 

To provide a homestead exemption for life estates in real property.

                           FISCAL NOTE 
No ascertainable fiscal impact is anticipated. 

Contact: Senator Bart Davis
Phone 332-1345

STATEMENT OF PURPOSE/ FISCAL NOTE                       S 1297