Legal Question in Real Estate Law in California
grant deed
Hi;I''ll like to change the the deed on my property ;I holding title with my brother as tennants in common ;I own 80% and my brother 20% ,I want to change it back to 100% to myself again as ''an unmarried man as his own and sole propietorship'' and take my brother out of title;he's willing to sign the new deed ;so my question is wich deed should I use; grant deed,quitclaim deed or another different deed
thank you.
1 Answer from Attorneys
Re: grant deed
I can answer the question with regard to the mechanics of the transaction, which is that your brother can execute either a grant deed or a quitclaim deed and record it at the county recorders office.
The wisdom of this transaction as well as the prior transaction is questionable, but cannot adequately be addressed without additional facts. There may be significant tax implications, depending on the value of the property. It will also likely cause a reassessment for property tax on at least part of the property, as siblings are not one of the exempt categories for inter-family transfers.
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