Real Estate
Transferring real estate into a living trust is an important step in estate planning, but it must be done correctly to avoid delays or complications. The deed must be prepared using precise legal language, and many counties require additional forms to be submitted along with the transfer. These documents help ensure that your property remains exempt from property tax reassessment. While transfers into or out of a living trust are typically not reassessed, filing the proper paperwork with the County Assessor is essential to maintain that benefit.
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Holding property in joint tenancy is a simple and effective way to avoid probate. Two or more individuals—such as spouses, parents and children, or even friends—can own property together as joint tenants with right of survivorship. This means that when one owner passes away, their share automatically transfers to the surviving owner without the need for probate or court involvement, making the process seamless and efficient.
After the loss of a co-owner, it is often necessary to update the property title to reflect the current ownership. This is done by recording an affidavit of death of trustee (if the property was held in a trust) or an affidavit of death of joint tenant with the county recorder’s office. Completing this step helps ensure that the title is clear, which is especially important if you plan to sell the property or access financing, such as a reverse mortgage or home equity line of credit.
Contact The Law Offices of Eric A. Rudolph P.C. to assist with your real estate needs.
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Learn valuable real estate information including Holding Title to Real Property in California, Avoid Probate of California Real Property with Living Trust, California Community Property Law, and more.
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