Legal Question in Real Estate Law in California

Can I add my name to my sister's property in California, without having the property reassessed?


Asked on 8/02/11, 12:33 pm

3 Answers from Attorneys

No. If you don't pay fair market value for your 1/2 interest, it will also trigger potentially significant gift and capital gains tax consequences as well.

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Answered on 8/02/11, 1:13 pm
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Not properly. When the deed is recorded, the transferred interest, 1/2 or otherwise, would be reappraised. Transfers between siblings are not exempt from reappraisal. Failure to record would avoid reappraisal for the time being, but would leave the door wide open for other problems and is not recommended.

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Answered on 8/02/11, 1:30 pm
George Shers Law Offices of Georges H. Shers

The other problems alluded to by Mr. Whipple is that once they find out the Tax Collector will bill you for back taxes owed with a penalty for non-payment.

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Answered on 8/02/11, 2:37 pm


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