Can I add my two brothers to a property without the tax's being reassessed? The property tax is low from prop 13

Asked 10 months ago - Lancaster, CA

The property was inherited from our parents. 20 years ago we went through probate and only put my name on it. I dont remember why, I am the oldest and do not want my brothers to have to fight for this property but I cant afford for the tax's to go up either. What can be done? Help! Thank you

Attorney answers (3)

  1. Michael Raymond Daymude

    Pro

    Contributor Level 20

    4

    Lawyers agree

    Answered . 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.... more
  2. Pardis Patrick Ashouri

    Contributor Level 17

    2

    Lawyers agree

    Answered . 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... more
  3. Zaher Fallahi

    Contributor Level 10

    2

    Lawyers agree

    Answered . 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.

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