Transferring a Deceased Person’s Real Property - Change Of Ownership.. скачать в хорошем качестве

Transferring a Deceased Person’s Real Property - Change Of Ownership..

Transferring a deceased person’s real property and the Change of Ownership statement. The state of California recognizes a person's death as a change of ownership event. And whenever there is a change in ownership or a transfer of a title, a change in ownership statement must be filed with the county assessor's office. The county assessor reassess a real property to determine if there will be any changes in the property tax liability. During the times of appreciating values reassessments increase your property taxes thus your monthly payment, and you don't want that do you? If the transfer qualifies for a reassessment exclusion you get to keep the current tax bases which is a huge benefit and savings. An executor or an administrator needs to notify the Assessor's office within 150 days of the death of the decedent or prior to a probate inventory and appraisal form has been filed with the court clerk. A change in ownership statement, Death of Real Property Owner must be with the Assessor's Office even if the property is in a living trust. If the responsible party fails to file the Change of ownership statement with-in the legal time penalties and fees maybe applied. Please visit the Assessor's website for a check-list of documents and exemptions that will need to be filed along with the Change of ownership statement, for example a Death Certificate a Last Will and Testament, Letters of Administration, list of heirs, and real property in a trust, a copy of the Trust with amendments and attachments. phone: 562-824-6850 email: winwinrealtorsinc@gmail.com #changeofownershipstatement #reassessmentexclusions