Legal Question in Real Estate Law in California
When recording a Contract for Deed (owner financing), in Kern County California, is the buyer supposed to submit a PCOR at the same time? If so, is the PCOR the instrument that transfers the property taxes from the sellers name to buyers name so the buyer can pay the property taxes?
Asked on 8/31/13, 10:11 pm
1 Answer from Attorneys
Anthony Roach
Law Office of Anthony A. Roach
The buyer is supposed to submit a PCOR when recording a deed for the purchase of the property. It determines whether, and if so, what the new tax assessed value should be. Your term "contract for deed" however is confusing. A buyer does not record the purchase and sale contract, unless you are recording an installment land sale contract.
Answered on 9/01/13, 8:05 am