CA Prop 13: Will a property quit claim deed between two sist

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Icon Mini Profile gg

Joined: 06 Aug 2008

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Post Posted: Wed Aug 06, 2008 11:56 am    Post subject: CA Prop 13: Will a property quit claim deed between two sist

CA Prop 13: Will a property quit claim deed between two sisters trigger a property tax assessment?

Two sisters are owning their deceased parent's home, and the older one wants to quit claim her share to the younger sister for various personal reasons. CA Prop 13 property tax is based on the value of the last assessment which took place when the sisters received title to the property at the time of their parent's death. Will a quit claim trigger a new tax base value assessment by the county?

Post Posted: Wed Aug 06, 2008 12:48 pm    Post subject:

Perhaps someone with more indepth knowledge could answer this, but I always thought that transfers bewteen family members were excluded. It would take a sale to trigger a reassessment.
Icon Mini Profile jheard

Joined: 12 Dec 2007

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Location: Houston, TX
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Post Posted: Thu Aug 07, 2008 7:47 am    Post subject:

Intra-family transfers are exempt. There is a form to file when you record the deed. Ask the county recorder's office, or check their website for the form.
Disclaimer: This is not legal advice and I am not your lawyer. The information provided here is for educational purposes only, and is not a substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation.
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