Legal Question in Real Estate Law in California

Deed

Once a grand deed is signed and notarized, how long do you have to get it recorded? If I've received a grant deed from my parents to myself and husband months ago, is it still good even though it hasn't been recorded yet? We are needing to sell our house we've lived in 12 years, it's been in my parents name for 8 of those years and we are trying to get around the capital gains tax. Any ideas? We did buy it ourselves 12 years ago, but transferred it for business reasons 8 years ago. Forgot about capital gains until now. Was hoping we could deed it back to us and just get it recorded.


Asked on 3/03/03, 11:42 pm

1 Answer from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: Deed

You can record the deed anytime. However, while the deed sits unrecorded, you lose the benefit of the basic protection recording is designed to give property owners -- a defense against 'claim jumping' and liens of all kinds. Also, a large gap between execution and recording raises problems of chain of title and suspicions of fraudulent or other improper intent. Generally, if you hold a deed, you should record it. Also, if you have lived in the house and also owned it you should not have a capital gains problem. You might want to ask a local lawyer to verify that no deeds or liens against your interests have been recorded while you sat idle, and also to explain the new capital-gains exemptions for owner occupied residences.

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Answered on 3/04/03, 1:23 am


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