There will be reassessment if you transfer an interest to your brothers since they do not presently have an interest in the property. You can leave the property to your brothers via a living trust or will. However, there will be a reassessment when the property is ultimately transferred to them because they do not presently have an ownership interest and they are not your children.
SINCE 1974. My answers are for general information only. They are not legal advice. Answers assume California law. I am licensed in California, only. Answers must not be relied upon.<br> <br> Legal advice and counsel must be based on the interplay between specific exact facts and the law. This forum does not allow for the discussion of that interplay. My answer to any specific question would likely be different if that interplay were explored during an attorney-client relationship. <br> <br> I provide legal advice and counsel during the course of an attorney-client relationship only. The exchange of information through this forum does not establish such a relationship. That relationship is established only by personal and direct consultation with me followed by the execution of a written attorney-client agreement signed by each of us.<br> <br> The communications on this website are not privileged or confidential. I assume no duty to anyone by my participation on Avvo because I have answered or commented on a question. Specifically, I assume no duty to respond to any question, comment, telephone call, or email because of my participation.<br> <br> All legal proceedings involve deadlines and time limiting statutes. So that legal rights are not lost for failure to timely take appropriate action and because I do not provide legal advice or counsel in answer to any question, if you are an interested party you should promptly and personally consult an attorney licensed in the appropriate jurisdiction for advice and counsel. See, also, Avvo's terms and conditions of use, specifically item 9, incorporated by this reference.<br>
Attorney Daymude gives good suggestion. You can set up a living trust but the reassessment issue in future can not be eliminated. it certainly is deferred and doesn't need to be addressed now if you would transfer to them now.
In addition to AVVO's disclaimer, please note that by this answer no attorney client relationship is intended mor entered into and unless there is a signed retainer agreement in place, neither me nor anyone in our office has intended to solicit clients nor reprints them. The answers are general in nature and without weighing specifics of particular query. No answer should be relied on in whole or in part, directly or otherwise to act or not to act in pursue of any of your potential claims in law or equity. You should consult with and obtain advise or representation of an attorney to protect your rights regarding your case or matter.
Any such transfer may require reassessment because, generally, the tax-free transfer applies to parent-child and child-parent, not siblings. Under the circumstances that the title should have been in both names, I would contact a lawyer or the county of situs and show them the error took place 20 years ago and they may offer a solution to remedy it by filing new forms. Of course, the grant deed must be correctd as well. Good luck.