Legal Question in Real Estate Law in California
real estate partnership exchange of interests
My partner and I own two properties of almost equal value in California. We would like to exchange interests so that each of us owns a property exclusively. How should the exchange be effected? Will there be any change in the local/state property taxes?
Asked on 11/17/08, 2:43 pm
2 Answers from Attorneys
Terry A. Nelson
Nelson & Lawless
Re: real estate partnership exchange of interests
You'll need a pair of transferring deeds, no big deal. However, there will likely be tax consequences and increases. See a tax person before jumping into this.
Answered on 11/17/08, 3:18 pm
Terry A. Nelson
Nelson & Lawless
Re: real estate partnership exchange of interests
You'll need a pair of transferring deeds, no big deal. However, there will likely be tax consequences and increases. See a tax person before jumping into this.
Answered on 11/17/08, 3:23 pm
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