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

CA Prop 13: Will a property [url=http://www.mortgagefit.com/quitclaim-deed.html]quit claim deed[/url] 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?

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:44 | Post subject:

jheard's picture
jheard | Joined: December 12, 2007 08:20 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:44 | Post subject:

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