Legal Question in Real Estate Law in California
My mother and I own a home jointly with right of survivorship. The deed describes me as "a single male", which was correct at that time. However I have now married. Does the deed need to be changed to describe me as "a married male"?
3 Answers from Attorneys
No. If it is clear that the property goes to you as your private and not community property there is no need to change the title. but for taxes purposes you might not want to get the property by joint tenancy instead of by inheritance. You need to speak to a tax attorney to figure out what is the best way to transfer the property to you. At this point, when your mother dies only her half interest in the property will get a stepped up basis.
The only reason you would have to change the title would be if there was some issue regarding it being community property, either you want to give your wife a community property interest, or you want to confirm it as your sole and separate property. If there are community property concerns, you should consult a Family Law attorney. As for Mr. Sher's comments regarding taxation issues, he is correct that only 50% will get a stepped up basis when your mother passes away, however, conveying 1/2 to her now would result in numerous complications, including possible gift tax to you, and property tax reassessment on 50% of the property to the current market value. The time for estate tax planning is when you jointly acquire property, not in the middle of owning it.
No, you don't have to change the deed. It is correct because you were unmarried at the time it was executed and delivered.
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