Legal Question in Real Estate Law in California
Change of title form
Hello and thank you for taking the time to read this: I am
simply
writing to inquire about which legal form would be
necessary in
order to change the name on a property title. The company I
work for is based out of the owner's home and the property
title that the home (and business) is on is in his and his
wife's name. They would like to change the title name to that
of the business. What form would we need to file in order for
that to happen? Thanks!
1 Answer from Attorneys
Re: Change of title form
This can be done with a simple grant deed. H&W would basically deed the house to the corporation. However, this doesn't sound like a particularly good idea.
If these people were my clients, I would question them as to WHY they wanted to do this. If the transfer was not structured properly, you might have unintended tax consequences such as taxable gain or an increase in property taxes.
Before proceeding, they should consult an attorney and a tax specialist to be fully informed of their options and the potential consequences.
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