Legal Question in Real Estate Law in California
Adding names to title or deed
A family member wants to add my
name to a deed (title?) to share
ownership in real property. What is the
best way to do this. Property is in
California.
2 Answers from Attorneys
Re: Adding names to title or deed
A deed. But there can be significant tax consequences. I don't recommend this unless a full discussion is had by you and the owner with an attorney.
Re: Adding names to title or deed
1. Obtain proper legal description of property.
2. Obtain names of current title holders.
3. Draft grant deed.
4. Have grant deed executed/notarized by existing title holders.
5. Record grant deed w/county recorder and pay documentary transfer tax.
6. Thank your lawyer for doing 1-5 above.
7. Review possible tax consequences with your tax advisor. Maybe this should be #1. Research possible Proposition 13 issue.
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